Japan credit watcher affirms PH rating

The Japan Credit Rating Agency (JCR) has affirmed its A- rating on the Philippines, citing the country's sustained high economic growth, robust domestic demand and low external debt levels as key factors behind the stable outlook.

- By KEISHA TA-ASAN

In its latest assessment, JCR said the ratings also reflect the Philippines' resilience to external shocks, underscored by substantial foreign exchange reserves.

The agency also commended the Marcos administration's fiscal consolidation and infrastructure development efforts, which have shown steady progress.

"JCR expects that economic growth and fiscal improvement through the government's efforts will enhance the country's creditworthiness. It will continue to monitor developments closely," the debt watcher said.

The country's gross domestic product (GDP) grew by 5.4 percent in the first quarter, slightly higher than the 5.3 percent expansion in the previous quarter, driven by strong household consumption.