The public debt in COVID timesThe COVID pandemic is the first major public health crisis that has engulfed the whole world in this century, in modern times, with disastrous impact on public finances of all countries. So, the fact that the Philippine public debt to the GDP ratio has risen dramatically in the last two years is not a development unique to the country. Size of the public debt and the fiscal deficit. This indicator of the public debt tells us more about the size of the public debt in relation to the productive capacity of the economy as measured by GDP. The Treasury has been careful to spread the sources of borrowing to finance the public debt.

Source: Philippine Star December 14, 2021 20:31 UTC