PBBM defends debt as investment in people

President Marcos has defended the government's growing debt levels, saying loans are being used to invest in Filipinos and not merely to cover gaps in the national budget.

- By ARGYLL CYRUS B. GEDUCOS

Marcos said this after the country's debt ballooned to P17.2 trillion as of July 2025.

In the third episode of his podcast released on Wednesday evening, Aug. 6, the President insisted the metric does not fully capture the returns on investments in infrastructure, social protection, and human capital.

"That debt is used for training people. What's the return? The return is employment," he said.

He explained that loans must be viewed in the context of economic growth and asset-building.