The Bangko Sentral ng Pilipinas and the Department of Finance sought to reassure investors after Fitch Ratings affirmed the Philippines’ BBB investment‑grade rating but lowered the outlook to negative.
“The economy remains in a good position because growth is strong and banks are in good shape,” BSP Governor Eli Remolona Jr. said.
He added the central bank is “closely monitoring the impact of higher oil prices and geopolitical developments, particularly the conflict in the Middle East, on inflation and the overall Philippine economy.”
Remolona said that while oil price pressures are driven by global supply shocks, the BSP “remains vigilant against spillover effects and the risk of de‑anchoring inflation expectations,” and stands ready to act “in a measured, timely, and data‑driven manner.”
Finance Secretary Frederick Go emphasized that the outlook revision was caused by external factors.
“The affirmation of our rating reflects our strong economic fundamentals and sound fiscal position,” he said. “The Philippine economy remains on solid footing with a robust domestic market, stable financial system, and recognized reforms.”
Both agencies underscored that the country’s fiscal and economic resilience provide a buffer against external shocks, even as Fitch flagged risks from energy volatility and geopolitical tensions.
