THE country’s debt-to-gross domestic product slightly eased in the second quarter of the year, but remained above the internationally-recommended 60-percent threshold for a healthy economy.
While this is down from the first quarter’s 17-year high of 63.5 percent debt-to-GDP ratio, it is the second consecutive month this year that the country has exceeded the 60-percent recommended threshold for an economy.Broken down, domestic debt as a ratio of GDP also went down from 44.4 percent in the previous quarter to 42.6 percent for April to June this year.
Just last month, the new Finance Secretary Benjamin Diokno said they expect the national government’s debt-to-GDP ratio to go down to 52.5 percent by the end of the Marcos Jr. administration in 2028. For this year, however, the national government still expects the debt ratio to exceed the 60-percent threshold, with a target of 61.8 percent by the end of the year.Diokno earlier brushed off the relatively high debt-to-GDP ratio of the country, saying the current level is “not a cause for concern,” especially when compared to other emerging economies.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lanao del Norte officials want 3 towns out of franchise of debt-ridden LasurecoThe move, if approved by Congress, would avert a looming power crisis in parts of Lanao del Norte.
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Gross domestic product (GDP) quarterly performance - BusinessWorld OnlineThe Philippine economy expanded by 7.4% in the second quarter — slower than expected — as rising inflation weighed on consumer spending. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Philippines Q2 GDP grows 7.4% year on year - BusinessWorld OnlineMANILA – The Philippine economy expanded less than expected in the second quarter, but at pace still in line with the official 2022 growth target, giving the central bank leeway to further tighten monetary policy to curb red-hot inflation. The Southeast Asian country’s gross domestic product was 7.4% higher in the June quarter than a […]
Source: bworldph - 🏆 9. / 68 Read more »
PSEi up on last-minute buying ahead of GDP data - BusinessWorld OnlineThe bellwether Philippine Stock Exchange index (PSEi) rose by 28.74 points or 0.44% to close at 6,434.24 on Monday, while the broader all shares index increased by 16.67 points or 0.48% to 3,448.73. READ:
Source: bworldph - 🏆 9. / 68 Read more »
GDP growth likely eased in Q2 — poll - BusinessWorld OnlineTHE Philippine economy likely grew at a slower pace in the second quarter as surging inflation may have affected consumer spending. READ:
Source: bworldph - 🏆 9. / 68 Read more »
PH first quarter GDP growth revised down to 8.2% from 8.3%The government said the Philippine economy grew a bit slower in the first quarter than previously reported. | bendeveraINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »