DEBT payments by the national government plunged in the first half of the year following an even steeper drop in amortizations, the Bureau of the Treasury (BTr) data showed. Debt servicing for the period totaled P458.35 billion, down 40.76 percent from the year-earlier P773.702 billion. Interest payments, on the other hand, increased by 23 percent to P257.215 billion from P208.533 billion. In June alone, debt payments dropped from P150.195 billion a year earlier to P44.286 billion, a decrease of 70.51 percent. Despite the rise, Finance Secretary Benjamin Diokno gave assurances that the Marcos administration would be able to reduce the country's debt burden.

Source: Manila Times August 16, 2022 05:20 UTC