THE rise of our national debt to P14.15 trillion by the end of June this year may have set in motion the old game of calculating how much every Filipino would owe his creditors by the time President Ferdinand Marcos Jr. (BBM) ends his term in 2028.
It does not make it painless that 68.5 percent of the debt stock is said to be domestically generated; only 31.5 percent is externally sourced.Which means we don't have to use our hard-earned US dollar reserves to service our foreign debt. The issue goes far beyond this.
This was a far cry from the times when House and Senate appropriations committee members had to forgo their Christmas break in order to finish the budget, or when President Gloria Macapagal Arroyo, now deputy speaker, had to reenact the previous year's budget because the two Houses could not come up with a new General Appropriations Act in time.But no good deed ever goes unpunished, so the committee will be expected to repeat last year's performance this year.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beyond the Buy | BrandRapA weekly column of affiliate stories explaining the hottest consumer trends and hypes.
Read more »
How UNWND offers tailored experiences for every modern-day wandererIf there’s any travel aid that understands the needs of different types of travelers, UNWND is at the forefront. With a collection of properties located in some of the most captivating destinations like Poblacion in Makati, Dumaguete in Negros Oriental, Calatagan in Batangas and Caticlan in Malay, UNWND goes beyond…
Read more »
Revered and reviled, Thailand's Thaksin Shinawatra returns homeTo the rural masses, Thaksin is loved as the first leader to pay attention to the needs of millions living beyond Bangkok's bright lights. To many in the urban middle class and the royalist elite, he was a crony capitalist who plundered the economy.
Read more »
PUBLiCUS Asia survey: Globe Group companies emerge as PHL’s Most Endeared BrandsTop brands of leading digital solutions platform Globe Group have emerged as the most endeared brands in the Philippines in the latest PAHAYAG 2023–Q2 survey conducted by PUBLiCUS Asia Inc. The PAHAYAG 2023 Second Quarter Survey, an independent and non-commissioned survey done from June 7 to 12, reached 1,500 respondents…
Read more »
Agriculture as linchpin of PHL economic growth | BusinessMirror EditorialAgriculture continued to be a laggard among the major economic sectors, based on the National Income Accounts (NIA) of the Philippines for the second quarter. According to the Philippine Statistics Authority, which publishes the NIA, Agriculture, forestry, fishing (AFF) grew by a measly 0.2 percent in April to June, lower…
Read more »
Beyond the Buy | BrandRapA weekly column of affiliate stories explaining the hottest consumer trends and hypes.
Read more »