By Clarist Mae Zablan
(November 28, 2024) – The National Economic and Development Authority (NEDA) on Thursday expressed confidence that “political noises” would not affect the Philippine economy, assuring that the country can weather political challenges.
At a press briefing at the Malacañang Palace, NEDA Sec. Arsenio Balisacan noted that the economy has been able to withstand various political challenges since the 1990s through “broadly sustained” economic policies.
“It’s business as usual for us, and I don’t think that these political noises would have any impact on the economy,” Balisacan told Palace reporters. “What is important is that our economic policies, our policy directions are sound and sustained.”
Balisacan did not mention names. But since last weekend, tensions flared between former allies Pres. Bongbong Marcos and Vice Pres. Sara Duterte after the vice president claimed to have told a person to assassinate the president if she was fatally attacked.
In a news release last Wednesday, Marcos’ economic managers — including Balisacan — hailed the improvement in S&P Global Ratings’ credit rating outlook for the Philippines from “stable” to “positive.” This meant that the rating agency expects the country’s credit rating of BBB+/A-2 to improve in the future.
A credit rating is an assessment of a company or government’s ability to pay off its debts.
The economic managers said the Philippines “is determined to achieve an A (credit) rating and the administration is ensuring that the transformation of the economy will not be set back by political challenges.”
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