As predicted, the Philippines got its aspired-for investment grade in the first half of 2013 – from three credit rating agencies, no less – Fitch last March 27, 2013, Standard & Poor’s last May 2, 2013, and the Japan Credit Rating Agency last May 7, 2013. Moody’s officials are expected to arrive this July so there are hints of a ratings upgrade from their part as well.
For the first quarter of 2013, it was reported that the Philippines grew by 7.8%, outperforming China and the rest of Asia. There are people saying, though, that this was fueled in part by massive election spending.
Source: http://www.foreclosurephilippines.com/2013/06/philippine-property-outlook-q2-2013.html#ixzz2XJpHbImU
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