Pimentel sounds alarm on rising debt service costs

Senate Minority Leader Aquilino “Koko” Pimentel III sounded the alarm on the rising debt servicing costs, or the budget reserved to pay for the country’s existing debt. | zacariansINQ

This huge cost of debt servicing diverts critical funds that should be used to augment social and health expenditures.

Pimentel also noted that the government’s outstanding debt has already reached P13.021 trillion as of end-August and may reach P14.63 trillion by end of 2023.Transparency in presenting budgets, borrowings, expenditures

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