Moody’s Warns Philippines of Downside Risk
World Economy

Moody’s Warns Philippines of Downside Risk

Debt watcher Moody’s Investors Service on Friday said the Philippines’ planned shift to a federal form of government could be a downside risk for the economy, especially on the country’s fiscal position, PNA reported. Moody’s nonetheless kept its Baa2 credit rating for the Philippines, one notch above the minimum investment grade, with a stable outlook. “Moody’s expects that growth will remain robust and that the Philippines’ fiscal metrics will strengthen somewhat as the government continues to make progress on its socioeconomic reform agenda, but these trends are likely to fall short of bringing the Philippines’ credit profile in line with higher-rated countries,” it said in a statement. However, “policymakers face challenges in managing the current inflationary pressures,” Moody’s said. In the first half of the year, headline inflation averaged 4.3%, above the government’s full-year target range of 2-4%. The Bangko Sentral ng Pilipinas’ policymaking Monetary Board already raised the key interest or policy rate to 3.5% or by 25 basis points each in May and June following higher-than-expected rate of increase in the prices of basic goods.


Short URL : https://goo.gl/9U23cg
  1. https://goo.gl/xN6fza
  • https://goo.gl/s5wJoZ
  • https://goo.gl/rNwYgt
  • https://goo.gl/jX9U2H
  • https://goo.gl/JDQKTt

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints