‘Maharlika fund to ease, notdeepen, PHL indebtedness’

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‘Maharlika fund to ease, notdeepen, PHL indebtedness’ - Business Mirror

Quick Summary:

Allaying concern that creating a haphazard Maharlika Investment Fund (MIF) might worsen the country’s huge indebtedness, National Treasurer Rosalia Leon said that, on the contrary, the need to borrow to finance development can be reduced if sovereign wealth fund can be tapped for such endeavor.

ASKED by Hontiveros what would be the impact of MIF on the government goal to reduce the debt-to-GDP ratio, the national treasurer asserted that “this can ease the burden, as it will reduce our need to borrow.

He cited the case of the international airport in Bicol, which tookten years, “kasi piche piche lang ang pasok ng pera… so nawawala ang present value nung project [because the money came in trickles, so the project loses its present value],” in contrast to if it had been finished in, say, three years.

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Article Details

Author / Journalist: Butch Fernandez

Category: BusinessStartups



Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-02-01 @ 12:57:48 (1 months ago)

News Timezone: GMT +8:00

News Source URL:

Language: English

Article Length: 892 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 5047802

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About Business Mirror

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Main Topics: BusinessStartups

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Update Frequency: 43 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 13 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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