JAPAN-BASED

JAPAN-BASED debt watcher Rating and Investment Information Inc. (R&I) upgraded its credit rating for the Philippines to “BBB+” from “BBB” on the back of the country’s continued economic growth, and affirmed its foreign currency short-term debt rating of “a-2.”


In a statement on its website, the credit rating agency said the revised rating signified the sufficiency of the country’s creditworthiness, “though some factors require attention in times of major environmental changes.”The a-2, on the other hand, indicates that the “certainty of the fulfillment of a short-term obligation is high, though some factors require attention,” it added.

In explaining the upgrade, R&I noted that “the Philippines’ economy continues to grow, driven by aggressive public investment under President Rodrigo Duterte’s administration. Although this has led to wider fiscal deficit, the government keeps its commitment to fiscal discipline and is confident of achieving the downward trend of the debt ratio.”

“With the steady progress of the government’s reforms to modernize the tax system and socioeconomic agenda, the level of national income is also rising,” it said, adding that the security situation in Mindanao improved after the Bangsamoro Transition Authority was launched.

“In addition to robust private consumption, backed by remittance inflows from overseas Filipinos, investment is increasing its contribution to the economy,” the credit rater said. “Led by the government, which promotes accelerated infrastructure investment, aggressive investment projects are being implemented, notably for a transportation network of roads and railways.”

“These projects are expected to serve as a platform for medium- to long-term growth, in R&I’s view,” it added.

‘Overdue’
Government officials welcomed the upgrade.

“We welcome the credit rating upgrade from R&I that, in our view, was overdue in light of the positive trends under the Duterte administration that have deepened investor confidence in the Philippine economy,” Finance Secretary Carlos Dominguez 3rd said.

Given that a sovereign credit rating is an assessment of a country’s ability and willingness to pay debts on time and in full, Dominguez said “the Philippines’ strong macroeconomic fundamentals, plus the Duterte administration’s aggressive investment strategy, while maintaining fiscal discipline, show that we deserve the higher rating.”

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the upgrade kept the country on course to attain its desired “A” rating.

“Given significant improvements in the country’s macroeconomic conditions, which are made possible in part by a favorable inflation environment and a sound financial system, hitting an A-scale rating from R&I and the other debt watchers within the next two years is achievable,” he added.

“On the part of the BSP, we will continue to adhere to the sound conduct of monetary policy and banking supervision. We will also vigorously pursue our additional mandates of supervising the country’s payments and settlements system and spearhead efforts to ensure a stable financial system.”

OVERSEAS Filipino workers

OVERSEAS Filipino workers (OFWs) ship over P147 billion each yr on common. These remittances are usually used to pay for his or her families’ every day bills and youngsters’s lessons, amongst others, leaving people with slightly any savings for retirement. Many OFWs turn out to be operating overseas for many years to ensure their economic balance after they sooner or later pass home to retire. Unfortunately, some nevertheless turn out to be with little or no financial savings and find themselves seeking out employment again after setting foot within the Motherland.

These “modern-day-day heroes” deserve to revel in the culmination of their difficult paintings. That means supporting their goals of acquiring a better existence with a very good savings plan, complemented through right execution. They need to avoid the urge to send 70 to ninety percentage of their salaries back home, splurge on luxurious gadgets as soon as a yr — or under no circumstances — and open a savings account. Of path, money doesn’t truely grow exponentially in the bank, however it facilitates to kick off and keep the good dependancy of placing apart at the least 10 percentage in their monthly salaries.

The purpose here is to save enough to have capital for an funding or feasible enterprise to preserve their cash go with the flow healthful once they decide to head lower back home. If you’re an OFW making plans on returning soon or are seeking out a business back home, examine on.Why start a business?

You get to head home sooner and make exquisite recollections along with your family, buddies and loved ones. If you’re married with kids, you get to play the crucial role of elevating your kids and being energetic in their lives. If that’s now not an amazing enough reason, being on top of things of your very own business might be sufficient to tempt you to store up and find a suitable business prospect.

If the life of an entrepreneur isn't always your cup of tea, you don’t ought to be the only at once dealing with your commercial enterprise. You can hire someone with a knack for handling the identical form of business you're setting up and changed into successful at it. However, you do have to ensure you get to reveal budget and are part of putting in place and approving the groundwork and operations of your commercial enterprise.

In the case of a few successful OFW commercial enterprise proprietors, their small agencies advanced to come to be family businesses. They were able to employ their siblings, helping them develop their acumen and percentage their wealth.

There are five correct enterprise options within the usa:

Your own laundromat or a franchise laundromat carrier. If you stay in a extraordinarily urbanized community, putting in place your own laundromat will be moneymaking. Demand is typically high in these regions from busy yuppies who need a short and convenient laundry carrier.

Of route, it’s not important for you to set up save in your community. But if installed in your network, it might reduce your commuting hours and therefore prevent time, and permit you to manage the enterprise extra by using being present for any troubleshooting wished. Nonetheless, any strategic region that guarantees a constant call for in your provider should suffice.