THE Philippines’ economic managers have welcomed S&P Global Ratings’ upgrade on its investment-grade credit rating from “BBB+” to “BBB,” which they credited to“bold reforms and sound economic policies.”

In a statement from the Investor Relations Office of the Bangko Sentral ng Pilipinas (BSP) on Tuesday night, Finance Secretary Carlos Dominguez 3rd was quoted as saying the upgrade “is an undeniable tribute to President [Rodrigo] Duterte’s unwavering commitment to bold reforms and sound economic policies, as embodied in the 10-point Socioeconomic Agenda of the administration and his strong political will to get these tough initiatives done at the soonest.”

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