The Philippine government’s current total outstanding debt stands at ₱11.64 trillion.
According to the Bureau of Treasury (BTr), as of the end of August 2021, the national government’s total debt increased by ₱32.05 billion or 0.28% due to the domestic debt issuance which is part of government financing.
Out of the total debt amount, 29.4% or ₱3.42 trillion was sourced externally while 70.6% or ₱8.22 trillion were domestic borrowings.
Uncertainties remain, especially with the threat of the Delta variant of the coronavirus disease 2019 (Covid-19), but economic recovery is clear, an official of an investment management and trust company said on Thursday.
During the virtual launch of Sun Life Investment Management and… Read More
Moody’s Investors Service is upbeat about the Philippines’ recovery prospects from the COVID-19 crisis, expecting the economy to outperform most of the sovereigns it rates in terms of average growth up to 2025.
In its latest credit analysis report on the Philippines, the international debt watcher cited its 10-year average growth projection for the Philippines for the period 2016 to 2025 at 4.8 percent—despite the sharp contraction last year resulting from the pandemic.
“Although this 10-year average includes the steep recession in 2020 associated with the global coronavirus pandemic, we expect the Philippines to grow faster than nearly 85 percent of rated sovereigns,” Moody’s said in the report released on 26 July 2021.
The debt watcher believes the recession in 2020 does not represent a material weakening of the Philippines’ growth prospects. READ MORE
COTABATO CITY – A keen observer of Southern Philippines development trends has recognized the capacities of Muslim Mindanao to ultimately overcome its backwater history to pursue long-lasting stability and full progress.Georgi Engelbrecht, senior analyst for Philippine affairs under the… Read More
MANILA – Malacañang on Tuesday expressed optimism that the Philippine economy would recover from the coronavirus disease 2019 (Covid-19) pandemic-induced slump.This, after the Philippine Statistics Authority (PSA) reported that the country’s gross domestic product (GDP) posted a… Read More
COTABATO CITY – The sheer volume of natural potentials within the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has encouraged the inception of a major program by the United Nations Development Program (UNDP).The UNDP has been implementing pro-poor projects in the Philippines for… Read More
COTABATO CITY — The Regional Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM) has approved the registration of Al Muzafar Agriventure Inc. (AMAVI) that would pour in PHP950 million worth of investments in the region’s banana industry.The firm, also… Read More
MANILA – The Department of Trade and Industry (DTI) on Tuesday said the proposal to remove the economic restrictions in the 1987 Constitution would help “unleash” the economic potential of the Philippines, the second-fastest growing economy in Southeast Asia.During the hearing of… Read More
Deputy Speaker and Buhay Rep. Lito Atienza on Sunday called for “bold reforms in the economic provisions of the 1987 Constitution” to enable the country to swiftly attract large-scale foreign direct investments badly needed to rebuild Philippine industries shattered by the… Read Mo
The chairman of the House Committee on Constitutional Amendments on Monday urged senators to keep an open mind in the proposed amendments to certain economic provisions in the 1987 Constitution to attract foreign investments.In a statement, Ako Bicol Rep. Alfredo Garbin Jr. said the… Read More