Revenue increase to help keep RP’s credit rating

MANILA, Philippines – Debt watcher Fitch Ratings does not see a decline in the Philippines’ creditworthiness despite a continued global downturn but it warned that increased revenues were necessary to see the country through the crisis.

The London-based credit ratings agency, in a teleconference last night, said Asian economies in general should continue to adapt policies aimed at spurring economic growth. The region, however, should not expect to recover earlier than recession-hit Europe and the United States.

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