Romualdez= House hoosts PH
credit rating, investnnemt tmage
rules, said under the lead-
ership of Speaker Alan Pc-
ter Civet)no thP tar rcform
measrlres that were ao-
HOUSE Maiority Leader proved on third and 6nal
and Leyte Rep. Martin reading before Congress
Romualdez has said the wmt on a month-Iong Hal-
House oI Represenlatives loween recess will furtller
reorked on the swift pas- Dromote the countrv as a
sage of rrreasures under 'viable investment d6stina-
the ComprehensiYe Tax tion.
Reform Program (CTRP) Thesein.ludeHo seBill
to help attain a much bet- (HB) No. 304 or the Passive
ter economy by hitting Income and Financial In-
"A" credit rating before termediaru Taxation Act
Prcsident Rodrigo "Rody"
_from (PIFITA) ahd HB No. 4157
Duterte steps down or the Corporate Income
power in 2022, Tax and In.entive Ratio-
Romualdez, who chairs naliza.tion Act (CITIRA).
the House committee on Romualdez said the
surging economy eamed
the Philippines ai upgrade
to BBB+, the country's high-
est credit ratinq ii hist6rv
from Standara[ & Poor's
Global Ratings (S&P).
"We also Tirmedi atelv
passed on third and finil
reading biJJg under the
Comprehensjve Tax Re-
form'Program (CTRP) to
helr, rca.h the A credit rat-
ind goal of the Duterte ad-
ministration. We are
notch awry from 'A' terri-
tory ratind .rfter a vote of
confidence bv Standard &
Poor's (S&P), upgrading
the country's qedit rating
from 'BBB' to 'BRB+' witF
the robust
of
a stable orrtlook berarsp
economic
growth," said Romualdez,
a former bank executive,
Albay Rep. Joey Sarte
Salceda, whb chnlrs the
llouse Committec on
Wavs and Means tha t
woiked for the passage of
CTRP measures, lauded
the leadershiD of Cavct-
ano and Rorirualdez'for
helDins President Duterte
a realize"his "A" cr€dit rat-
ing in the remaining years
ol-the Duterte administra-
tion.
Aside from promoting
the Philipphes as a feasible
investment destination,
Salceda said the "A" credit
rating will help reduce tie
cause of the cormtry's bor-
rowmg,
"ll/e are working very
hard here in Congrcss to
boost the Philippjnes'
chances of geLting another
credit rarinf upgiade from
internation.rl Aabt wat.h-
crs," said Salceda, vice
chairman of the House
Conrmittee on ApFropria-
tions-
Romualdez, a Iawyer
and oresident of *re Philio-
Dine' Constitution Associla-
iion(Philconsa), said the
HousP of Reoresentatives
would continue to priori-
tize the passage of bills
aimed at sustaining the
country's economic gror {h
momentum.
"The groundwork for
fiscal reform has been set.
President Duterte's fiscal
reform is ex?ected to take
our economv to the next
level of develoDment," Ro-
mualdez, presidmt of the
Lakas-Chiistian Muslim
Democrats (CMD), poinF
ed out.
He congrafulated anew
Finance Secretary Carlos
"Sonny" Domingriez Itr for
the sound economic poli-
cies of the Duterte adinin-
istration.
€c.4.2