Economy can outgrow debt despite P16-trillion load–DOF

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The story "Economy can outgrow debt despite P16-trillion load–DOF" was covered 17 hours ago by Business Mirror, a news publisher based in Philippines.

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Economy can outgrow debt despite P16-trillion load–DOF - Business Mirror

Quick Summary:

PHILIPPINE outstanding debt exceeding the P16-trillion mark recently is not a cause for concern as the economy is on track to outgrow its debt, according to Finance Secretary Ralph G.Recto.

This comes after the government’s outstanding debt reached P16.020 trillion as of the end of October 2024 due to the peso depreciation against the US dollar.

The government’s outstanding debt is expected to reach P16.1 trillion at the end of 2024 and will further balloon to P20.7 trillion by the end of Marcos Jr.’s administration.