Senate Minority Leader Franklin Drilon has urged state economic managers to reconsider allocating huge funds for the security sector for next year amid the “skyrocketing” national debt and a growing budget deficit. Drilon said he is dismayed at the negative growth in the social services sector...
Government debt inched up anew in June this year due to higher borrowings from foreign creditors. Data from the Bureau of the Treasury showed that the national government’s outstanding debt stock stood at P11.166 trillion as of June, up by P94.9 billion from P11.071 trillion in the previous...
The national government’s debt payments increased by half in May this year as both interest expense and amortization jumped by double-digits, data from the Bureau of the Treasury showed. Debt servicing of the Duterte administration accelerated by 53 percent during the month to P37.8 billion from...
Opposition Senator Leila de Lima on Wednesday said the public should keep tabs on the Duterte administration’s “debt spree” as the Philippines reached a high record of P11-trillion in borrowings. “With a record-breaking P11.07-trillion in debt, the Duterte administraiton continues to be on...
The Land Bank of the Philippines has certified that the local government of Paranaque City is now debt-free. Mayor Edwin Olivarez thanked City Treasurer Anthony Pulmano for using the “prudent spending and good governance” formula that enabled the city government to pay off its loan to Land Bank...
House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate on Tuesday, July 6 assailed as “nonsensical” Malacanang’s claim that government lacks money to grant cash assistance to Filipinos reeling from the devastating effects of the 2019 coronavirus disease (COVID-19) pandemic....
The government has the capacity to settle its financial obligations after the country's debt reached more than P11 trillion amid efforts to mitigate the impact of the pandemic, Malacañang said Tuesday. Presidential Spokesman Harry Roque (File photo/Malacañang) According to Presidential spokesman...
The Philippines breached the P11 trillion debt level in May this year as loans made by the national government amid the pandemic continued to grow. The Bureau of the Treasury reported on Monday, July 5, that the government's outstanding financial obligations rose 24 percent to P11.071 trillion in...
The Philippines’ external debt increased by 19.19 percent year-on-year or by $15.63 billion as of end March to $97.047 billion from $81.421 billion as the government accumulated foreign loans for anti-pandemic response and budget financing. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E....
The next administration is going to face a hefty debt burden plus a shrinking economy and a rising unemployment rate and hunger due to the mismanagement of the COVID-19 pandemic, Senate Minority Leader Franklin Drilon said on Wednesday. Drilon blamed this mismanagement on the Department of Health...
President Duterte’s chief economic manager justified the multi-trillion peso borrowings for the year, citing the national government needed to rely on financing to the bridge the widening gap between revenues and expenditures. Finance Secretary Carlos G. Dominguez III said on Tuesday, June 15,...
The Philippines’ next leader should take into account the overwhelming problems hounding the country amid the coronavirus (COVID-19) crisis and must be prepared to solve these, Senator Panfilo Lacson said on Sunday. More than deciding to file his or her candidacy and get elected, Lacson said the...
