Philippines reaches record-high Php 12.09 trillion debt

Philippine debt has reached a total of Php 12.09 trillion at the end of February.

The Philippines has recorded 12.09 trillion Php debt, highest amount of recorded debt Source: Getty Images/TED ALJIBE/AFP

Highlights

• Part of the borrowed funds was allocated to government programs in response to the COVID-19 pandemic
• The amount reflects “peso depreciation” to the US dollar
• Around 7.2 million voters' registration have been de-activated or nullified in the coming May 2022 Elections

The Bureau of Treasury said the national debt is at a record-high.

 

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