Promotion muna bago salary increase

Hiii. I've been in this company for more than 7 years already. It was 2022 when i got my last promotion. Since then, no promotion or salary increase na, which i know i deserve naman kasi i'm doing well and they are even telling me that way.

Now, they are saying na ippromote na daw nila ako pero wala muna salary adjustment kasi di pa maganda business condition.

What are your thoughts? Is this a positive move or not?