These are all expected to continue… and that, ladies and gentlemen, is not wishful thinking… neither is it a matter of luck… Because the reform agenda and the policy focus to support these are clearly in place. The Philippines’ track record has shown that even in good times, reforms have been sustained. Beyond investment grade: does it matter?
But is going beyond investment grade a goal we should pursue? Clearly, going beyond investment grade of itself would truly matter if it translates to real investments. For our ultimate stakeholder, investment-led economic transformation is necessary not just for sustainable growth, but also to develop a competitive middle-class group that further boosts our domestic demand.