11 months Debt ratio improves to better than target MB |Biz
By Chino S. Leyco The government debt as a percentage of the Philippine economy slid below the target last year despite higher borrowings and weaker peso against the US dollar, the Bureau of the Treasury reported yesterday. According to the Treasury, the government’s debt-to-gross domestic product (GDP) ratio settled at 41.9 percent last year, lower than the programmed 42.1 percent for 2018. “The lower debt-to-GDP ratio is due to the moderate increment in debt as a result of prudent cash and debt management and steady economic growth,” the Treasury said. But despite the decline in debt ratio, the national ... more