The agency noted that the eight-month-old Marcos administration has made it clear that it intends to continue and further develop the basic stance taken by the former administration, which emphasized infrastructure development as its policy.
Also, the public-sector debt-to-GDP ratio remains above 50 percent, registering at 60.9 percent at the end of 2022.Still, JCR said this was one of the lowest ratios among the sovereigns that it had rated in the A-range. Reacting to this, Finance Secretary Benjamin Diokno said the Marcos administration is indeed committed to maintaining sound macroeconomic fundamentals and achieving its fiscal targets by continuing the course of sound fiscal management.
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