‘Consider PH credit standing in okaying tax reforms’home/Business/Top Business/‘Consider PH credit standing in okaying tax reforms’Lawmakers should consider the country’s latest credit rating standing in approving the remaining tax reform proposals of the government, Finance Secretary Carlos Dominguez 3rd said. “I hope that, with this credit rating upgrade recently, the Senate will really consider passing these bills that will redound to the benefit of the Filipino people,” Dominguez was quoted in a Department of Finance statement on Friday. In late April, S&P Global Ratings raised the country’s credit rating from “BBB” to “BBB+” and assigned a stable outlook. “What S&P really is saying (in its report) is this is the roadmap to a second upgrade. It’s right there, all you have to do is follow it: Complete the tax reform program; sustain the deficit at 3 percent, don’t increase it in other words; lower your debt-to-GDP (gross domestic product) ratio.
Source: Manila Times May 24, 2019 16:54 UTC