President Marcos' chief economic manager said that his directive to remit unused funds from government-owned and controlled corporations (GOCCs) is prudent to improve resource management and minimize reliance on additional borrowing. In a recent radio interview, Finance Secretary Ralph G. Recto...
The debt paid by the national government has already amounted to around P1.28 trillion in the first six months of this year, data from the Bureau of the Treasury (BTr) showed. Latest data from the Treasury showed that the Marcos administration paid a total of P1.283 trillion from January to June...
The proportion of the country's outstanding debt relative to its overall economic output returned to its post-pandemic peak in the second quarter, data from the Bureau of the Treasury revealed. Despite a higher growth rate, the gross domestic product (GDP) failed to keep pace with the government's...
Department of Finance (DOF) Secretary Ralph Recto (House of Representatives’ Facebook page) Department of Finance (DOF) Secretary Ralph Recto assured members of a House of Representatives panel that the Marcos administration is managing the country’s debt according to the “highest standards...
Government debt reached P15.48 trillion in June this year due to continued borrowing and the peso's depreciation against the US dollar, data from the Bureau of the Treasury showed. The national government's outstanding debt increased by seven percent in June from P14.52 trillion in the same month...
The Philippine government is on track to surpass the P17 trillion debt threshold by the end of next year, data from the Department of Budget and Management (DBM) showed. Based on the Budget of Expenditures and Sources of Financing submitted to Congress, the Marcos administration expects to conclude...
The bargaining chip dangled by the Department of Energy (DOE) on the proposed corporate life extension for state-run Power Sector Assets and Liabilities Management Corporation (PSALM) is to prevent transfer of P300 billion worth of its residual debts to the national government coffers. “At this...
The country’s external debt service burden as of April totaled $4.64 billion, 19.79 percent lower compared to the same time last year of $5.785 billion, with fewer prepayments from the public and private sectors. The debt service burden, which represents both principal and interest payments after...
The Bureau of the Treasury reported an increase in the national government’s debt payments in May this year, primarily due to larger settlements made to local and external creditors. The Marcos administration disbursed P69 billion towards its local and external financial obligations during...
The national government’s debt soared in May due to the depreciation of the Philippine peso and the government's net financing during the period, the Bureau of the Treasury reported on Thursday, July 4. Data released by the treasury showed that the latest debt balance reflects a P330.39 billion,...
The Institute of International Finance (IIF) reported the Philippines as a leader in investor relations (IR) practices among emerging markets and developing countries. In the latest 2024 IIF Investor Relations and Debt Transparency Report, the Philippines received a score of 48.8 out of 50,...
The Marcos administration’s borrowings surged in May due to the government’s maiden offshore bond sale this year, data from the Bureau of the Treasury showed. According to the Treasury, gross financing rose by 77 percent to P259.33 billion in May from the P146.78 billion recorded in the same...
