The Philippines’ 2025 Budget, Explained

Quick Summary:

The expanded budget confirms the Marcos administration's commitment to financing scaled up public spending by borrowing and running deficits.

Some countries have legal limits on deficit spending, such as Indonesia, where annual deficits are capped at 3 percent of GDP, and when the new president said he would push that upper bound markets reacted negatively.

Like 2024, next year’s budget will continue borrowing to pay for spending, with a projected deficit equal to 5.3 percent of GDP.

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Article Details

Author / Journalist: James Guild

Category: Economy

Markets: United StatesBangladeshCanadaChinaIndiaIndonesiaNorth KoreaMalaysiaPhilippinesTaiwanUkraineUzbekistan

Topics: Budget Percent Rate Spending Deficits 2024 2025 Fiscal Assumptions Year Been

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 13:19:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2065 words

Reading Time: 12 minutes read

Sentences: 103 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © The Diplomat

News ID: 23366446

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