The nationwide authorities’s excellent debt inched nearer to the P13-trillion mark, reaching a brand new excessive of P12.89 trillion in July because of further native and overseas borrowings, aggravated by a weak peso.
The most recent Bureau of the Treasury (BTr) knowledge launched on Saturday confirmed that excellent obligations as of end-July rose 0.8 p.c from P12.79 trillion in June, and climbed 11 p.c from P11.61 trillion a yr in the past.
Finance Secretary Benjamin Diokno instructed legislators final month that the end-July debt pile was estimated by the Division of Finance (DOF) to be equal to 62.1 p.c of gross home product (GDP).
The debt-to-GDP ratio is claimed to be the higher measure of…
Carry on studying: PH debt climbs to P12.89 trillion by end of July
