ILOILO CITY, March 31 (PNA) — Sen. Franklin Drilon welcomed the unprecedented investment grade status of the Philippines Sunday noting that this should be made relevant to the poor.
Drilon said the poor could only feet the economic upgrade if resources for investments should be utilized to create jobs, infrastructure projects and improve the health and education services.
“…we must see to it that these fiscal advantages and benefits should lead to more jobs and better incomes for poor Filipinos,” Drilon said in a statement.
With an investment grade status, Drilon was also optimistic that the local industries could attract more foreign investments.
This could be possible since the positive rating indicates a well-managed Philippine economy both in fiscal and monetary bases and this could be an assurance to creditors that they will be promptly paid, he said.
As the campaign manager of Liberal Party’s Team Pinoy, Drilon vowed that their senatorial candidates will continue to support the fiscal reforms and programs on good governance under President Benigno Aquino III. (PNA)