Philippine Debt-to-GDP Ratio Hits 22-Year High Amid Slowing Economic Growth
The Philippines' debt-to-gross domestic product (GDP) ratio reached 66% in the second quarter, its highest level since 2004, primarily driven by slowing economic growth. While the national government's outstanding debt has increased, experts deem it manageable but warn of fiscal constraints.
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The Philippines' debt-to-GDP ratio reached 66% as of end-June, a 22-year high. Concerns are mounting that sluggish economic growth and weak investment could hinder efforts to reduce the country's debt.
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