Fitch ratings a result of Congress measures — Romualdez

Speaker Martin Romualdez INQUIRER file photo / MARIANNE BERMUDEZ

MANILA, Philippines — House Speaker Martin Romualdez on Tuesday said that the country’s improved Fitch ratings sprung from Congress’ efforts to pass bills.

American-based credit rating agency Fitch Ratings Inc. had previously raised the Philippines’ rating from negative to stable.

“This is clearly an acknowledgment of our efforts to push through Congress the measures and reforms needed to pursue the eight-point socioeconomic agenda of President Ferdinand Marcos Jr., meant to create more jobs, improve social services, and steer the economy irreversibly back to the strong growth path it is on before the pandemic,” said Romualdez in a statement

READ: Fitch Ratings improves outlook on PH to stable from negative

According to Romualdez, the House will remain firm in passing priority bills of Marcos.

“The House of Representatives will persevere in doing our part to make sure the promise of a strong economy, more and better-paying jobs, food and energy security, and better education and opportunities for our youth are realized within the Marcos administration,” he said.

The Speaker said that the country will likely remain stable in the next 12 to 18 months.

After previously meeting with members of the International Monetary Fund (IMF), Romualdez claimed that they were impressed by the Philippines.

“From our discussions, I could confidently say that the IMF Mission Members were impressed with the Philippines’ economic performance and the government’s economic agenda. They expressed confidence that the Philippines will continue to grow strongly in the years ahead,” Romualdez said.

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