The country has been cited by London-based business magazine, the Economist, among the emerging countries with the highest level of “financial strength.”
On Monday, Malacañang lauded the recognition, which it attributed to the policies of President Rodrigo R. Duterte and the economic team, which led to a strong economy for the country.
“The Economist said Philippines is the sixth among emerging economies with a high level financial strength in the world,” Presidential spokesperson Harry Roque said during an online briefing.
Leading the list was Botswana and followed by Taiwan, South Korea, Peru, and Russia.
Coming in 7th place was Thailand, then the Kingdom of Saudi Arabia, Bangladesh, and China.
The Economist made the ranking in terms of a county’s public debt, foreign debt, cost of borrowing, and reserve cover.
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