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Finance Secretary Ralph Recto on Wednesday revealed how much debt the Philippine government has accumulated from late President Ferdinand Marcos Sr.’s regime up to the present administration of the latter’s son and namesake, Ferdinand “Bongbong” Marcos Jr.During the Senate’s continuation of its deliberations on the proposed P6.352-trillion national budget next year, Recto allayed concerns about the Philippines’ ballooning sovereign debt.
- P367 billion Corazon Aquino - P739 billion Fidel Ramos - P1.420 trillion Joseph Estrada - P2.186 trillion Gloria Macapagal-Arroyo’s first term - P3.5 trillion Arroyo’s second term - P4.6 trillion Benigno Aquino III - P5.9 trillion Rodrigo Duterte - P13.4 trillion Ferdinand Marcos Jr. - P15.5 trillionDespite the rising debt, the Finance chief said the country’s economic growth would outpace the increase in debts.
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