Philippine Gov't Debt Hits Record P19.1 Trillion
Politics

Philippine Gov't Debt Hits Record P19.1 Trillion

The Philippine government's outstanding debt reached a record P19.07 trillion as of end-June, driven by increased domestic and external borrowings. This figure surpasses the initial annual projection.

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  • Philippine Government Debt Surpasses P19 Trillion Mark

    The Philippine government's outstanding debt reached a record P19.065 trillion by the end of June, primarily due to increased domestic and external borrowings for national development. An economist noted potential for wider deficits but also a "calculated trade-off" for economic growth through infrastructure spending.