Misinformation about the Philippine debt might be harmful to crafting policies needed for a robust recovery from the economic impact of the ongoing pandemic. Recently, the Philippine Daily Inquirer incorrectly reported that a third of the proposed 2023 national budget was allotted for paying off the country's debt. PHOTO BY JOHN RYAN BALDEMOR"Only 11.6 percent or P611.0 billion of the P5.268 trillion proposed 2023 national budget is allocated for debt burden. That statement mentioned that debt servicing in the proposed budget was higher than this year's allocation of 10.8 percent, but lower than in 2021, when it was 12.4 percent. False concerns raised about the Philippine debt could turn public opinion against tough but sound economic policy measures.

Source: Manila Times August 28, 2022 06:06 UTC