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Fitch Revises Philippines Outlook to Negative, Citing Energy Shocks Drag on Economic Growth
Fitch Ratings on Monday revised the outlook on the Philippines to "Negative" from "Stable" to reflect disruptions to public investment and the countrys vulnerability to global ene...
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Fitch Ratings on Monday revised the outlook on the Philippines to "Negative" from "Stable" to reflect disruptions to public investment and the countrys vulnerability to global energy shocks, which pose risks to medium-term economic growth.

The agency said the Philippines is particularly exposed to conflict in the Middle East due to its heavy reliance on imported energy and the potential decline in remittances from the Gulf region. Fitch noted that although the government has introduced targeted subsidies for vulnerable sectors, consumers are bearing most of the burden from rising energy prices.

Fitch affirmed the countrys Long-Term Foreign-Currency Issuer Default Rating at "BBB".

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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