A May 3, press release from the Department of Tourism: The Presidential Task Force composed of the Department of Tourism (DOT), Department of Justice (DOJ), Department of Environmental and Natural Resources (DENR), and Department of Interior and Local Government (DILG), in cooperation with the local government unit of Malay and the Department of Public Works and Highways (DPWH), lauds several DOT-accredited enterprises which have voluntarily cleaned the beach area fronting their establishments and cleared structures in support of the 25 plus 5 meter easement regulation in the island of Boracay.
We reiterate that the SWS’ survey and its results are vastly different than the LFS which is the official reference of the government and by the World Bank, ADB [Asian Development Bank], IMF [International Monetary Fund], ILO [International Labour Organization], and other Philippine development partners. Hence, they are not comparable.
Today, the Philippines has gained its second investment grade credit rating. Standard & Poor’s (S&P) Ratings Services has elevated the Philippines’ sovereign credit ratings to BBB- from BB+, with a stable outlook. This upgrade affirms the global market’s renewed and heightened confidence in our country as a viable investment center in Asia.
A May 2, 2013, press release from the Department of Agriculture, National Meat Inspection Service: The Department of Agriculture through the National Meat Inspection Service (DA-NMIS) has issued Administrative Order 9 (AO9)—prescribing additional guidelines in accrediting meat importers—to primarily promote food safety by eliminating illegal and fly-by-night meat importers.
A May 2, 2013, press release from the Bangko Sentral ng Pilipinas: The Philippines today received investment grade rating from international credit rating agency Standard & Poor’s. In a statement released by the agency, the country’s sovereign long-term foreign currency rating was upgraded from “BB+” to “BBB-“ with stable outlook. This upgrade by S&P comes after the Philippine sovereign received its first investment grade rating from Fitch Ratings in March this year.
A May 2, 2013, press release from the Department of Budget and Management: Reaffirming the Administration’s goal of strengthening the country’s infrastructure base, the Department of Budget and Management (DBM) today announced that disbursements for infrastructure and capital outlay (CO) grew by 50.1 percent to P58.1 billion in the first quarter of 2013, up by 19.4 billion year-on-year.
Tuwid na Daan is truly the path to progress and tangible improvements in our economic life. Today, Standard and Poor’s upgraded the Philippines from BB+ to an Investment Grade rating of BBB-. This comes at the heels of the earlier pronouncement of Fitch Ratings that already upgraded the Philippines to investment grade.
I would like to thank Standard & Poor’s for their upgrade of the Philippines to Investment Grade rating, from BB+ to BBB- with a stable outlook, today.
A May 2, 2013, press release from the Department of Foreign Affairs: The Philippine Embassy in Damascus reported to the Department of Foreign Affairs (DFA) that 35 Filipinos safely crossed the Syrian-Lebanese border yesterday, May 1.