The Marcos administration amassed a total of P1.2 trillion in new debt during its first full-year in Malacañang. Data from the Bureau of the Treasury showed that the national government concluded 2023 with a total outstanding debt of P14.616 trillion, nine percent or P1.197 trillion higher...
Finance Secretary Ralph G. Recto has dismissed worries about the country's ballooning debt stock, affirming the government's capability to meet all maturing financial obligations. Recto said that the current total government debt, which amounted to P14.51 trillion as of November last year,...
Finance Secretary Ralph G. Recto has urged Congress to work with the Department of Finance (DOF) to quickly pass key reforms necessary to lower the government’ budget deficit and debt levels. Recto, who served as a legislator in both the upper and lower houses, said that the DOF is currently...
As the new year approaches, the Bureau of the Treasury reported that the national government's debt remained below the full-year target set by the Marcos administration for 2023. At end-November last year, the national government's outstanding debt stood at P14.509 trillion, still P114 billion...
VIGAN CITY, Ilocos Sur – A woman collecting debt was gunned down in Barangay III here on New Year’s Eve. Police Lt. Col. Reynante Pitpitan, Vigan police chief, identified the victim as Rhona Osalvo, 36, of Shelterville, Barangay San Julian, this city. Investigation said Osalvo was collecting...
The Department of Finance (DOF) is looking into a proposal setting a debt ceiling that would determine whether the national government should increase or decrease its borrowing. Finance Secretary Benjamin E. Diokno said the DOF will consider the International Monetary Fund's (IMF) proposal to adopt...
Government debt swelled in October even as the peso's depreciation against the US dollar provided some relief, data from the Bureau of the Treasury showed. The government's outstanding debt as of end-November stood at P14.48 trillion, an increase of P212.13 billion compared to the September figure...
The target ratio for the country’s debt as a share of the gross domestic product (GDP) for the medium term is attainable, Department of Finance Secretary Benjamin E. Diokno said. In a panel discussion with the Philippines’ economic managers, Diokno said that the government’s target ratio will...
Department of Finance (DOF) Secretary Benjamin E. Diokno said that the government is firm on reducing the country’s budget deficit-to-gross domestic product (GDP) to three percent by 2028. This after credit rating agency Fitch Ratings noted the country’s general government deficit to narrow to...
The national government's debt service bill accelerated in the first nine-months of the year, primarily driven by higher amortization payments, data from the Bureau of the Treasury showed. Between January and September, the Marcos administration's debt payments surged by 57 percent to reach P1.4...
BACOLOD CITY – A barber was shot dead by an 18-year-old construction worker over an unpaid debt in Barangay 27 here on Wednesday night, November 8. POLICE respond to a shooting incident in which a barber was killed over unpaid debt in Barangay 27, Bacolod City on Wednesday, November 8. (Photo...
The Bureau of the Treasury said the Marcos administration has recorded a slight decrease in its foreign and local borrowings in the first nine months of the year. From January to September 2023, gross financing totaled P1.782 trillion, a two percent drop compared to the same period last year when...
