As the economy again contracted while obligations surged to new highs, the Philippines’ debt-to-gross domestic product ratio (GDP) ratio jumped to 60.4 percent in the first quarter, slightly above the internationally recommended 60-percent threshold, which multilateral lenders and credit-rating agencies considered as manageable debt levels.
The latest Bureau of the Treasury data showed that domestic debt-to-GDP climbed to 43.4 percent in March from 37.3 percent as of end-2020. External debt-to-GDP ratio slightly declined to 17 percent in the first quarter from 17.3 percent at the end of last year.
The national government’s outstanding debt hit a new high of P10.77 trillion in March…
Keep on reading: PH debt-to-GDP ratio jumps to 16-year high