THE national government capped the year 2024 with P16.051 trillion in outstanding debt, representing 60.7 percent of the country’s overall economy.
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AS the Philippines wrapped up 2024 with a staggering P16.051 trillion in outstanding debt—representing 60.7 percent of the country’s GDP—concerns regarding the sustainability of this financial trajectory naturally arise among Filipino taxpayers. The increase of P1.435 trillion from the previous year, along with a debt-to-GDP ratio that surpasses the internationally accepted threshold, necessitates a critical examination to ensure that this debt level does not result in negative consequences for the Filipino people. (Read the BusinessMirror story: “PHL debt climbed to P16.051 trillion in 2024, or 60.7% of GDP,” February 5, 2025).
THE national government capped the year 2024 with P16.051 trillion in outstanding debt, representing 60.7 percent of the country’s overall economy.
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