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.
Recognizing this, the NG has accelerated the bidding and awarding of crucial infrastructure projects and raised public investment. In addition, the government’s targeted social spending, especially in education, is expected to yield broader growth in the long run by improving our human capital. These initiatives should help both our investment to GDP ratio and our national income to continue their upward trend.