MANILA, Philippines – The high-profile corruption scandal involving state-funded flood control projects has disrupted the Philippines’ bid for an “A” credit rating this year.
Finance Secretary Ralph Recto warned that the fallout from the scandal could negatively impact economic growth and strain the government’s fiscal position.
Speaking to reporters on Tuesday, Recto shared insights based on recent discussions, highlighting the potential consequences of the ongoing investigation.
https://business.inquirer.net/552596/recto-corruption-probe-stalls-ph-trek-to-a-rating