BSP confident PH will get 'A' credit rating in two years

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is confident that the Philippines will achieve an 'A' credit rating within two years, a significant upgrade from its current 'BBB' investment grade.

An 'A' credit rating is expected to lower borrowing costs for the country and foster a more favorable investment environment, thereby supporting economic growth.

Fitch Ratings recently upgraded the country's outlook to 'positive' from 'stable', signaling a potential move to 'BBB+' within the next 12 to 18 months.

Finance Secretary Carlos Dominguez III stated that the Philippines looks forward to the further alignment of its credit ratings to its level of creditworthiness, as indicated by a decreasing debt-to-GDP ratio and positive economic prospects from record investment levels in infrastructure and human capital.

Last year, the Philippines' debt-to-GDP ratio improved to 41.6 percent, below the 2019 program of 41.7 percent and 2018's 41.9 percent.

Dominguez highlighted that the Duterte administration has pursued an aggressive investment program while maintaining fiscal discipline, leading to upgrades in the country's ratings.