THE Philippines’ investment grade rating is at “BBB” as assessed by Fitch ratings, and is largely due to the economic strong medium-term growth prospects, declining liabilities, macroeconomic stability, and sound economic rules.

In a statement, Fitch said that based on their forecast of growth, which is measured by gross domestic product (GDP).

It averages 6 percent in the medium term, where during the third quarter this year, the GDP is expected to exceeded expectations after expanding by 5.9 percent from 4.3 percent in the previous three months.

So far, the average growth during the first three quarters this year to 5.5 percent.

This is still below the economic managers’ 6 percent to 7 percent growth assumption for this year.

"The Marcos administration, in office since June 2022, has continued with structural economic reforms, passing a new law streamlining PPP (public-private partnerships) processes in September 2023, which could help catalyze private investment to address the Philippines' large infrastructure gaps. This follows the foreign investment act and public service act passed in 2022, which opened up more areas of the economy to foreign and private investment," Fitch Ratings stated.

The Fitch Ratings likewise noted the Bangko Sentral ng Pilipinas’ (BSP) inflation-targeting framework and the foreign exchange policies.

They said it is “credible,” as the total of 450 basis points hike in the central bank’s key rates since 2022.