MANILA - President Rodrigo Duterte is "loud and clear" on his economic policies, the head of his economic team said Wednesday, after Standard & Poor's raised concern over his bloody war on drugs and tough rhetoric.
The American debt-watcher said policy-making in the Philippines had been "somewhat diminished" in the three months since Duterte took office and a credit rating upgrade was unlikely in the next two years.
"The Duterte administration is loud and clear in its message. We want to achieve a kind of economic growth that is not only robust and sustainable but one that actually lifts significantly more Filipinos out of poverty," Dominguez said in a statement.
"If one is able to see through the noise created by negative headlines, he may have better and comprehensive understanding of the exciting, positive changes that are ahead of the Philippines," he added.
Dominguez welcomed S&P's decision on Wednesday to maintain the country's investment grade ratings, saying this gave the government "greater resolve to transform the economy into a truly inclusive one."