Piling PH debtThe country’s total outstanding debt, based on preliminary data from the Bureau of Treasury (BTr), has reached P11.73 trillion by end of December last year. The huge debt figures have caused concern among the public and raised the question: “Are we borrowing too much?”Should the public worry? To answer the question, it is important to look past the numbers and certain misconceptions about the national debt. To help weigh in on the government’s debt, instead of focusing on the debt figures, Quimbo advised to look first at the country’s debt-to-GDP ratio—which compares a country’s debt to its financial output. “Contrary to popular belief, the public debt is not driven by foreign borrowings, but rather domestic debt,” they said.

Source: Philippine Daily Inquirer February 04, 2022 18:35 UTC