The national government's debt payment in the first half of the year doubled after increasing its budget allocation for repaying loans that were nearing their maturity. Data from the Bureau of the Treasury revealed that from January to June 2023, debt servicing amounted to P907.9 billion, a 98...
In order to meet the Marcos administration’s spending requirements, the national government had to borrow over P1.4 trillion in the first half of the year due to a lack of sufficient funds. Based on the Bureau of the Treasury report, gross borrowing of the Marcos administration amounted to P1.423...
Senator Ronald “Bato” Dela Rosa on Monday, August 21 claimed he was “taken out of context” over his statement saying Filipinos should bear more children to help lower the country’s debt per capita. Sen. Ronald "Bato" Dela Rosa (Senate PRIB Photo) In a phone interview, Dela...
Senate Minority Leader Aquilino “Koko” Pimentel III has raised alarm over the rapid escalation of the country’s national debt. Senate Minority Leader Aquilino "Koko" Pimentel III (Senate PRIB Photo) The national debt is on track to reach an unprecedented P15.8 trillion by the end of...
Senate President Juan Miguel “Migz” Zubiri signed the controversial Maharlika Investment fund (MIF) bill in Washington, DC, on Wednesday, June 21. He also signed the Estate Tax Amnesty Extension Act, and the act recognizing Baler, Aurora, as the birthplace of Philippine Surfing. Zubiri...
PARIS, France -- The world's poorest countries are bearing the brunt of the world's debt crisis, at a time when they need more cash than ever to fight climate change. As top officials gather in Paris for the Summit for a New Global Financing Pact, AFP takes a look at the problem. Which countries...
Despite the lack of resources, Senator Francis “Chiz” Escudero on Sunday, June 4, said he agrees with the proposal to increase the cash grant under the Pantawid Pamilyang Pilipino Program (4Ps), the government’s poverty reduction program. ...
If Surigao del Norte 2nd district Rep. Robert Ace Barbers would have his way, he would allow the use of funds generated by both the mining and tourism industries to jumpstart the proposed Maharlika Investment Fund (MIF). Surigao del Norte 2nd district Rep. Robert Ace Barbers (Ellson Quismorio/...
The Marcos administration will again tap the overseas debt markets with its three-tranche US dollar dominated bond sale that aims to bridge the government’s budget deficit for the year. Based on a document obtained by reporters, the Philippine government launched on Monday, Jan. 9, the...
Government borrowings accelerated in November last year mainly due to increased domestic financing, data from the Bureau of the Treasury revealed. Gross borrowings of the Marcos administration amounted to P97.87 billion in November alone, up 266 percent from only P26.69 billion in the same month in...
The strengthening of the peso against the US dollar in November helped soften the rise in government debt, the Bureau of the Treasury reported. Based on the Treasury report on Tuesday, Jan. 3, the outstanding debt of the national government stood at P13.644 trillion at end-November, up by a...
Debt payments of the national government dropped by more than half in October this year due to lower amortization, data from the Bureau of the Treasury showed. Marcos administration’s debt servicing reached P39.82 billion in October, down 55 percent more O89.06 billion paid out in the same month...
