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R&I Affirms Philippines’ A− Rating With Stable Outlook

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Courtroom-sketch editorial illustration of Filipino finance officials reviewing economic charts before Manila's skyline, port and infrastructure works, rendered in warm ochre and slate-blue pastel strokes.

Japan-based Rating and Investment Information has affirmed the Philippines at A− with a stable outlook. R&I cited continued expansion supported by population growth, infrastructure and foreign investment; a diversified base spanning tourism, IT services and manufacturing; fiscal consolidation; manageable debt; and sufficient foreign-exchange reserves. It expects growth to recover as infrastructure-budget execution normalizes.

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