Tokyo-based Ratings and Investment Information Inc. (R&I Ratings) on Tuesday affirmed its “BBB” investment grade rating for the Philippines, forecasting solid economic growth given the Duterte government’s aggressive infrastructure plans. R&I said it would be looking if solid economic growth resulted in a rise in income levels. R&I also pointed out that in addition to robust private consumption backed by stable remittance inflows, growth in investment has been increasing in recent years. “With the rising share of investment in gross domestic product (GDP), the aggressive public investment program initiated by the Duterte administration would serve as a platform for economic growth in the foreseeable future,” it said. It also mentioned that thanks to robust growth in foreign direct investment, there is no concern over the availability of financing.

Source: Manila Times December 19, 2017 18:00 UTC