Debt-to-GDP ratio up 44% on domestic borrowings

May 24, 2019 12:13 am

DOMESTIC borrowings made by the national government pushed the Philippines’ debt-to-gross domestic product (GDP) ratio higher at end-March, the Department of Finance (DoF) reported on Thursday.

National government debt as a percentage of GDP rose to 44 percent as of end-March from 42.6 percent a year ago, which the department attributed to the increase in domestic debt.

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