Legarda supports legislative measures in achieving ‘A’ rating credit status

As the Senate held a briefing on the Proposed 2025 National Expenditure Program by the Development Budget Coordination Committee (DBCC) on Tuesday, Senator Loren Legarda acknowledged the legislature’s role in achieving an ‘A’ rating credit status by 2028.

Legarda inquired about the specific initiatives that the Bangko Sentral ng Pilipinas (BSP) is currently undertaking to support the “Road to A Credit Rating Agenda” and the BSP’s role in the Investor Relations group within this agenda.

As articulated by BSP Governor Eli M. Remolona, Jr., a higher credit rating is not merely a financial benchmark but a testament to our nation’s economic strength, leading to reduced external borrowing costs and attracting more foreign investment. This achievement hinges on three core pillars: macroeconomic stability, fiscal sustainability, and good governance.

The four-term Senator expressed, “Strengthening our economic resilience and credibility is crucial, and I am committed to supporting legislative measures that will solidify our nation’s standing in the global economic arena. We will continue to work closely with key stakeholders to ensure that our policies and initiatives are strategically aligned with the broader goal of driving and sustaining the Philippines’ economic progress.”

“The briefing with DBCC allowed us to have a holistic overview of the previous and recent issues encountered in facilitating past budgets, the correlation between economic indicators and budget implementation, and other aspects for consideration in crafting the budget for the next fiscal year,” Legarda stated.

“As legislators, it is essential that we widen our perspective during this season of deliberations in order to maximize every centavo of our budget aimed at improving the lives of our fellow Filipinos. We look forward to a productive budget season focused on inclusive development and ensuring equitable opportunities for all sectors,” the Senator furthered. (30)