MANILA, Philippines — While Finance Secretary Carlos Dominguez admitted that the country’s debt level amid the coronavirus pandemic is “high,” he assured that it remains “sustainable” and that the country can still manage to handle it.
During the weekly briefing with President Rodrigo Duterte, Dominguez said that the country’s expenditures amid the pandemic increased in 2020 and 2021, pushing the government to borrow money.
“What did we do? We had to borrow money because humina nga yung economy natin (our economy has weakened) because of the lockdowns tapos bumaba pa yung collections natin kasi humina ang businesses (collections remain low due to w…
Keep on reading: Dominguez: PH debt level amid pandemic ‘high’ but ‘sustainable’