| The Macroeconomic Index looks
at stability, country credit ratings, and general expenditures.
Stability would refer to inflation rates, interest rate
spreads, real exchange rates, budget surpluses, and the
national savings rate. Country credit ratings refer to
sovereign debt ratings issued by Moody’s and Standard
& Poor’s. Government expenditures are measured
as a percentage of GDP.
The Philippines rates relatively well in the Macroeconomic
Index, with the exception of poor performances in terms
of access to credit and the deficit-to-GDP ratio
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