eseoulpost
BusinessPhilippines
Moody's affirms 'Stable' rating on Philippines
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2018.07.22  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

MANILA -- Debt rater Moody’s Investors Service on Friday affirmed the Philippines’ long-term local and foreign currency issuer rating at ‘Baa2’ with Stable outlook after noting the economy’s robust expansion, improving fiscal situation and debt affordability.

In a statement issued Friday night, Moody’s said domestic growth continues to get a boost “from a large and fast-growing economy” and “moderate government debt levels.”

These factors balance the low per capita income and “still low revenue-raising capacity as compared to similarly rated peer countries,” it said.

Moody’s decision came two days after Fitch Ratings made the same decision on account of favourable growth outlook.

The credit rater said economic shocks are seen to be cushioned by the “relatively large economy and high growth potential”.

Proven ability to sustain macroeconomic and financial stability is also a plus for the Philippines, it said, noting that the government has implemented policies that ensured stable and low debt levels.

Thus, it projects general government debt to remain low vis-a-vis the similarly-rated countries at 38 percent of domestic output. “The country's favorable demographics support steadily rising labor inputs and potential growth, while reducing the burden of ageing-related costs on government finances,” the statement said.

Improvement of the residual maturity of the government’s debt, at about 12 years of foreign debt and 7.6 years for domestic debt, enables the government to finance its obligations, Moody’s said. “Moreover, large foreign exchange reserves and low economy-wide external debt contribute to macroeconomic stability,” it said.

“More generally, relatively low reliance on either foreign sources of income or financing insulates the Philippines from the direct impact of abrupt changes in the global macroeconomic and financial environment,” it noted. The debt rater also expects the government’s infrastructure program to be well-financed given the reforms in the tax system.

The Tax Reform for Acceleration and Inclusion (TRAIN) law, implemented since the start of 2018, is seen to increase state revenues from 15.6 percent of domestic output in 2017 to 16.2 percent this year and 16.7 percent next year. “A permanently higher revenue intake will provide some additional fiscal room for higher spending, in particular on infrastructure,” the statement said.

Meanwhile, Moody’s expects the increase in domestic inflation to be transitory but pointed out that sustained pressure on the peso and capital inflows as well as the deficit of the current account “pose material challenges to policymakers in ensuring that inflation expectations and inflation pressure are contained.” (PNA

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Uno Jeon painting exhibition opens in Seoul
2
Finance minister vows to take contingency measures
3
Mohamed bin Zayed, Macron discuss ties, regional, international developments
4
UAE shines in management and governance for temporary contractual cross-country relocation
5
UAE Press: Accelerate efforts to tackle climate change
6
Retired Chinese official to pay respects to former SEF chief
7
U.S. envoy on N. Korea Biegun to visit Seoul this week
8
UAE welcomes Saudi Arabia's announcement to establish Arab and African Coastal States of Red Sea and Gulf of Aden
9
Tsai will not sacrifice Taiwan's dignity for ties with China: aide
10
No wonder drug to help Taiwan in U.S.-China trade war: minister
Photo News Green Biz
DEWA invites customers to take up Shams Dubai to generate onsite solar power
DEWA invites customers to take up ...
min
World Green Economy Summit to kick off in October
World Green Economy Summit to kick...
min
Abu Dhabi hosts The First Regional Biodiversity Forum in the Gulf Region
Abu Dhabi hosts The First Regional...
min
Etihad ESCO plans to reduce more than one million tonnes of carbon dioxide by 2030
Etihad ESCO plans to reduce more t...
min
Sharjah Municipality, MOCCAE discuss cooperation to protect environment
Sharjah Municipality, MOCCAE discu...
min
Photo News Sports
More history for Koreas in canoe; sport climber, hurdler grab gold medals
More history for Koreas in canoe; ...
min
Shooter wins Taiwan's 2nd gold at Asian Games (update)
Shooter wins Taiwan's 2nd gold at ...
min
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
Photo News World
More history for Koreas in canoe; sport climber, hurdler grab gold medals
More history for Koreas in canoe; ...
min
Shooter wins Taiwan's 2nd gold at Asian Games (update)
Shooter wins Taiwan's 2nd gold at ...
min
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
Photo News Opinion
Ex-ranking Army officer under probe jumps to death: police
Ex-ranking Army officer under prob...
min
Koreas agree to verify withdrawal of border guard posts on Dec. 12
Koreas agree to verify withdrawal ...
min
S. Korea's first for-profit hospital gains approval from Jeju provincial gov't
S. Korea's first for-profit hospit...
min
Moon orders measures to strengthen presidential officials' discipline
Moon orders measures to strengthen...
min
Seoul thinks it is still possible for N.K. leader to visit S. Korea this year
Seoul thinks it is still possible ...
min
S. Korean childbirths continue to decline in September
S. Korean childbirths continue to ...
min
S. Korea to lose competitiveness in key export industries: KERI
S. Korea to lose competitiveness i...
min
Koreas agree to actively cooperate over modernizing direct phone lines
Koreas agree to actively cooperate...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com