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Debt ratio weakens past int'l standards
The Philippine Star
|November 10, 2024
AS GDP SLOWS IN Q3
Following the 5.2 percent gross domestic product (GDP) growth rate in the third quarter, the share of national debt to the country's output rose to 61.3 percent from 60.9 percent in the previous quarter.
This was also significantly above the 60.2 percent recorded in the third quarter of last year.
Similarly, the latest ratio is above the 60.6 percent yearend target set by the Development Budget Coordination Committee. As of end-September, the national debt is at a record P15.89 trillion.
As such, the current debt-to-GDP ratio remained above the internationally accepted threshold of 60 percent which still puts the Philippines at a vulnerable spot in terms of its capacity to pay off its financial obligations.
This story is from the November 10, 2024 edition of The Philippine Star.
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