Assessments that investments are stagnating and the economy is slowing down have a sinister agenda, considering that these are not factual.

External situations are getting progressively worse, which puts pressure on the global economy, but growth in the region remains resilient, particularly in the Philippines, which the International Monetary Fund projected.

IMF forecast growth to hit 5.3 percent by the end of the year and spring higher to 5.9 percent in 2024, which are levels that are only next to India's pace-setting 6.3 percent for this year and the next.

While capital inflows remain modest, some $753 million in foreign direct investments were recorded last July from $555 million a year ago.

Fitch Ratings recently upgraded the outlook on the economy from "negative" to "stable" in its latest assessment.

Fitch said the upgrade reflected Fitch's improved confidence that the Philippines is returning to strong medium-term growth.

It expected a higher GDP expansion of 6 percent after a record outturn of 7.6 percent in 2022.

An IMF team that visited the country early this month said the slowdown to 4.3 percent in the second quarter was primarily due to the weak global economy and tightened policy settings.

The multilateral lender said an acceleration in public spending and improved external export demand supports the steady growth trajectory.

Downside risks will all come from external factors, including a persistently high global and domestic inflation that may require further tightening of monetary policy, an abrupt global slowdown, an intensification in geo-political tensions, and depreciation pressures stemming from capital outflows under volatile market conditions.

While the detractors harp on the supposed poor governance, the factor was never mentioned in the various assessments of the country's prospects.

A more resilient US economy and a rebound in domestic demand supported by easing financial conditions will keep the economy humming.