Efforts of the national government’s economic managers to lighten the country’s debt burden appear to be gaining ground as the debt stock eased to P13.42 trillion as of Dec. 31, 2022, according to the Bureau of the Treasury. | RonWDomingoINQ /PDI
During the second semester of 2022, or the first six months of the Marcos administration, P627 billion was added to the government’s financial obligations.
Also, the improved debt-to-GDP ratio is lower than the 61.8-percent target presented in the Marcos administration’s medium-term fiscal framework and closer to the 60 percent that is considered manageable.“This reflects the consistent drive to bolster debt sustainability through prudent cash and debt management backed by resurgent economic growth,” the BTr said in a statement.
“Our medium-term fiscal plan and exemplary GDP growth have allowed us to outpace our borrowings,” Finance Secretary Benjamin Diokno said in a statement. Out of the debt stock as of end-2022, 68.6 percent or P9.2 trillion was borrowed from domestic lenders while 31.4 percent or P4.2 trillion is owed to foreign lenders.
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Philippine debt stock down to P13.42T at end-2022The Philippine national government’s debt stock eased to P13.42 trillion as of Dec. 31 from P13.64 trillion on Nov. 30, thanks partly to the appreciation of the peso against the US dollar, according to the Bureau of the Treasury. | RonWDomingoINQ /PDI
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