VERA Files
The day before the briefing, Marcos had raised his concern over the country’s debt-to-GDP ratio before members of the United States-Association of Southeast Asian Nations Business Council.
One year into office, President Ferdinand Marcos Jr. is yet to deliver “substantial” progress on his promises to improve the Philippine economic situation. But the administration’s economic managers stay optimistic that the country “remains firmly on track” toward post-pandemic recovery.
The figures are referring only to gross borrowings or new debt that the government has incurred.
The COVID-19 pandemic forced the government to borrow at the historic level of P3.2 trillion to manage the unprecedented health and economic crises that included providing stimulus packages for small businesses, unemployment benefits, incentives and financial assistance for health and other essential workers. The national debt in 2021, a year after the pandemic hit, reached […]
Sa simula ng 2023, iniulat ng isang international debt watcher na ang Pilipinas ay kabilang sa ilang mga bansa na makakakita ng pagbaba sa kanilang debt stock “ng ilang percentage points” batay sa inaasahang mataas na nominal GDP growth.