The national government’s debt stock, which was at 60.4 percent of gross domestic product in 2021, is expected to have risen in 2022 to approach 64 percent. | RonWDomingoINQ /PDI
According to First Metro Investment Corp. and the University of Asia and the Pacific , the Philippines’ debt ratio will rise slower at 1 to 1.5 percentage points in 2023.
Next month’s borrowing program slates four auctions of Treasury bills with the three tenors at P5 billion each or P15 billion per batch, for a total offer of P60 billion. “We think that the national government will have a full year deficit of only 6.5 percent of GDP and so the debt ratio will likely end up below 64 percent in 2022, a maximum of 66 percent in 2023, with the start of decline by 2024,” FMIC and UA&P said.
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