Fitch warns of SOE subsidy fiscal risks

FITCH RATINGS said subsidies to state-owned enterprises (SOEs) could pose fiscal risks for countries with high debt-to-gross domestic product (GDP) ratios, including the Philippines. In a report written by Fitch Director for Asia-Pacific Sovereigns Sagarika Chandra and Associate Director for Asia-Pacific Sovereigns Kathleen Chen, the credit watcher said capital injections and subsidies to SOEs have […]