National govt debt hits record P14.62T

Feb 01, 2024 12:38 am

THE national government's outstanding debt hit a new record high of P14.62 trillion in 2023, the Bureau of the Treasury reported on Wednesday, with P1.2 trillion having been added from a year earlier.

Measured against the economy, which grew by 5.6 percent last year, the country's debt to gross domestic product (GDP) ratio still improved to 60.2 percent from 2022's 60.9 percent.

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