Philippines National Debt Surpasses P18.5 Trillion Amid Fiscal Credibility Concerns
The Philippines' national debt reached P18.55 trillion by end-May, with domestic borrowings driving the increase. The debt-to-GDP ratio now exceeds government targets, raising concerns about fiscal credibility and the need for economic growth recovery.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- Philippines' Upper-Middle Income Status Raises Investor Bar, Demands Further Reforms
The Philippines' reclassification as an upper-middle income country by the World Bank has elevated investor expectations, necessitating further reforms to improve the ease of doing business and enhance competitiveness. While a milestone, it highlights the need for better infrastructure, clearer regulations, and improved service delivery.
- Philippines Ascends to Upper Middle-Income Status, Boosting Hopes for Jobs and Investments
The Philippines has officially been recognized as an Upper Middle-Income Country (UMIC) by the World Bank. This milestone signifies the nation's robust economic fundamentals, with Executive Secretary Ralph Recto anticipating increased job creation, investment, and opportunities for Filipinos.