FINANCE Secretary Carlos G. Dominguez III said he is open to selling Ninoy Aquino International Airport to raise the much-needed revenues to help pay for debts the government incurred after it imposed lockdown measures against Covid-19.
“That [selling NAIA] is a definite possibility. Actually we have thought about that since 2016? But we have to see first how the development of the alternative to NAIA,” he told reporters during a news briefing. Last Wednesday, the DOF unveiled its proposed fiscal consolidation plan, which contains a set of measures aimed to generate an annual average of nearly P350 billion per year from 2023 to 2027 to help the country outgrow its debt at a faster rate.
As of end-March, the national government is staring at a record-high debt of P12.68 trillion as it resorted to more borrowings amid weak revenue collections and increased spending. The national government’s debt-to-GDP ratio has also risen to a 17-year-high at 63.5 percent, above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. This is also the highest since the country’s debt-to-GDP ratio hit 65.
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Source: inquirerdotnet - 🏆 3. / 86 Read more »
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Source: inquirerdotnet - 🏆 3. / 86 Read more »
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