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JAPAN-BASED Rating and Investment Information Inc. (R&I) has affirmed the Philippines investment-grade BBB+ credit rating and also revised its outlook to positive from stable. The Philippine economy has been performing well despite uncertainty surrounding the global economy, it said in a statement on Monday.The debt watcher noted an improvement in the fiscal deficit, albeit gradual, and an expected decline in the government debt ratio beginning this year.The current account deficit, meanwhile, is expected to shrink and the country s external debt was said to remain under control.The banking sector was also described as sound and stable, while President Ferdinand Marcos Jr. s approval ratings were said to be contributing to a stable political environment.In raising the outlook for the Philippines, R&I said it would upgrade the country s rating once the factors such as the economic growth path sought under the Philippine Development Plan 2023-2028, the stable macroeconom

Ferdinand marcos jrBenjamin dioknoJapan credit rating agencyTerms of servicePhilippine development planInvestment information incInvestment informationPresident ferdinand marcosManila timesJapan credit ratingSecretary benjamin diokno