Fitch Ratings keeps ‘negative’ PHL outlook

FITCH RATINGS affirmed the Philippines’ investment grade rating and kept the “negative” outlook, amid concerns over the impact of rising interest rates, soaring inflation and slowing global demand on the economy’s recovery. Fitch on Thursday said it maintained the Philippines’ long-term foreign currency issuer default rating at “BBB,” as this “balances strong growth, external finances […]

PHL consumer spending to pick up in 2022 – Fitch Solutions

The improving employment rate and consumer sentiment in the Philippines could back a projected 5.1% household spending growth next year, Fitch Solutions Country Risk and Industry Research said.  In a report released on Friday, Fitch Solutions said consumer spending could grow by a total of P11.1 trillion in 2022, accelerating from the estimated 3.5% growth […]

Digital banking sector to grow amid rise in online transactions

ONLINE TRANSACTIONS have climbed due to the coronavirus pandemic. — KATEMANGOSTAR /FREEPIK.COM THE RISE in online transactions has opened opportunities for digital banking as many Filipinos remain unbanked or underbanked, Fitch Solutions Country Risk & Industry Research said, although the country’s underdeveloped digital infrastructure may limit the sector’s growth. “The Philippines’ large unbanked population, one […]