7 months Govt debt balloons to P7.292T in 2018 Manilatimes |Biz
National government (NG) debt ballooned to P7.292 trillion last year, expanding by over P600 billion from 2017 due to higher domestic and foreign borrowings, the Bureau of the Treasury reported on Tuesday. The Bureau of Treasury in Intramuros, Manila. PHOTO BY JOSEPH GERARD SEGUIAThe end-2018 level was up by 9.6 percent or P640.07 billion compared to the prior year, with P97.48 billion added in December alone. It was equivalent to 41.9 percent of gross domestic product (GDP), which the Treasury stressed was lower than the programmed 42.1 percent and 42.1 percent posted a year ago. “The lower debt-to-GDP ratio is ... more