“It is with great pride that I learned today that Ratings and Investment Information, Inc., changed the Philippine Rating Outlook to ‘Positive’ from ‘Stable’ while affirming our investment grade rating of BBB-. The gains of good governance are again recognized by those who monitor world economies, with our tax collection reforms and our landmark sin tax reform law contributing greatly to the positive outlook.

“I commend R&I for noting not just the prudent fiscal management we have implemented under President Aquino, but the great strides we have taken towards lasting peace in Mindanao. With the recent signing of the wealth sharing annex to the Framework Agreement on the Bangsamoro, we have come closer to enshrining perpetual inclusive growth in law for all Filipinos.

“I thank R&I for this timely and balanced evaluation of the Philippines.”