DOF says political noise unlikely to affect positive economic outlook in the Philippines | ABS-CBN
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DOF says political noise unlikely to affect positive economic outlook in the Philippines
DOF says political noise unlikely to affect positive economic outlook in the Philippines
People wearing masks of President Ferdinand Marcos Jr. and Vice President Sara Duterte play fight during the launch of “Tap Warrior’s ‘Punch to Vote’” on November 20, 2024. Maria Tan, ABS-CBN NewsMANILA — The Department of Finance is confident that the country’s current political environment will not affect the positive economic outlook in the Philippines, citing the country’s strong fiscal policies and economic reforms.
People wearing masks of President Ferdinand Marcos Jr. and Vice President Sara Duterte play fight during the launch of “Tap Warrior’s ‘Punch to Vote’” on November 20, 2024. Maria Tan, ABS-CBN NewsMANILA — The Department of Finance is confident that the country’s current political environment will not affect the positive economic outlook in the Philippines, citing the country’s strong fiscal policies and economic reforms.“Based sa mga conversations namin with investors actually, 'yung Philippines may political noise, pero actually 'yung mga foreign investors mas insulated sila sa political noise. Although may nababasa sila sa international media that covers the Philippines also, but I think hindi 'yun masyadong nagmamatter kasi we have proven ourselves that we are beyond this political noise,” Finance Undersecretary Domini Velasquez said in a televised briefing.
“Based sa mga conversations namin with investors actually, 'yung Philippines may political noise, pero actually 'yung mga foreign investors mas insulated sila sa political noise. Although may nababasa sila sa international media that covers the Philippines also, but I think hindi 'yun masyadong nagmamatter kasi we have proven ourselves that we are beyond this political noise,” Finance Undersecretary Domini Velasquez said in a televised briefing.
“We are able to pass reforms, ito nga yung CREATE More na-pass natin, we are able to consolidate our finances and parang kumbaga kaya tayong may positive outlook from S&P ay meron na tayong track record na nagagawa natin ito kahit ano pang political noise.”
“We are able to pass reforms, ito nga yung CREATE More na-pass natin, we are able to consolidate our finances and parang kumbaga kaya tayong may positive outlook from S&P ay meron na tayong track record na nagagawa natin ito kahit ano pang political noise.”
Velasquez made the statement as the country’s economic managers welcomed the improved credit rating outlook to positive, indicating a possible upgrade to an “A-“ rating within the 24 months. The S&P cited the Philippines’ “above-average growth potential, effective policymaking, fiscal reforms, improved infrastructure and policy environment, and solid external position” as key factors for the improved rating.
Velasquez made the statement as the country’s economic managers welcomed the improved credit rating outlook to positive, indicating a possible upgrade to an “A-“ rating within the 24 months. The S&P cited the Philippines’ “above-average growth potential, effective policymaking, fiscal reforms, improved infrastructure and policy environment, and solid external position” as key factors for the improved rating.
In a statement, the country’s economic managers noted the resilience of the Philippine economy against both domestic and external challenges, such as natural disasters, geopolitical risks, and global or regional financial crises. “Hence, it is business as usual for the Philippine government,” they said.
In a statement, the country’s economic managers noted the resilience of the Philippine economy against both domestic and external challenges, such as natural disasters, geopolitical risks, and global or regional financial crises. “Hence, it is business as usual for the Philippine government,” they said.
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Go Negosyo Founder and Private Sector Advisory Council (PSAC) Lead for jobs Joey Concepcion meanwhile said that uncertainty caused by the ongoing political turmoil is expected to pass, adding that the expected increased spending during the holiday season is expected to boost the economy.
Go Negosyo Founder and Private Sector Advisory Council (PSAC) Lead for jobs Joey Concepcion meanwhile said that uncertainty caused by the ongoing political turmoil is expected to pass, adding that the expected increased spending during the holiday season is expected to boost the economy.
“Unfortunately, you have this situation ngayon pero I think regardless of that, we should remain focused on our economy. I think all of these things will eventually pass and what’s important is this Christmas season, we have to celebrate. Celebrating Christmas in a happy environment generates more spending. So the more that people will spend to buy gifts, have parties, that helps a lot in increasing the economy,” Concepcion said.
“Unfortunately, you have this situation ngayon pero I think regardless of that, we should remain focused on our economy. I think all of these things will eventually pass and what’s important is this Christmas season, we have to celebrate. Celebrating Christmas in a happy environment generates more spending. So the more that people will spend to buy gifts, have parties, that helps a lot in increasing the economy,” Concepcion said.
Vice President Sara Duterte, over the weekend, lashed out at President Ferdinand Marcos Jr., First Lady Liza Marcos, and House Speaker Martin Romualdez in an expletive-filled press conference.
Vice President Sara Duterte, over the weekend, lashed out at President Ferdinand Marcos Jr., First Lady Liza Marcos, and House Speaker Martin Romualdez in an expletive-filled press conference.
Duterte accused the First Lady of corruption and alleged that the on-going House of Representatives probe on the use of confidential funds of the Office of the Vice President (OVP) and the Department of Education (DepEd) stems from Romuladez's supposed interest to run for president in 2028.
Duterte accused the First Lady of corruption and alleged that the on-going House of Representatives probe on the use of confidential funds of the Office of the Vice President (OVP) and the Department of Education (DepEd) stems from Romuladez's supposed interest to run for president in 2028.
She also claimed that she has contracted an assassin to kill Marcos Jr., should a plot against her succeed. Malacañang has described Duterte's statement as an "active threat."
She also claimed that she has contracted an assassin to kill Marcos Jr., should a plot against her succeed. Malacañang has described Duterte's statement as an "active threat."
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