THE PHILIPPINES’ debt-to-gross domestic product (GDP) ratio is unlikely to return to the pre-pandemic level as debt remains elevated in the medium term, the Bureau of the Treasury (BTr) said.
But the National Government’s (NG) medium-term fiscal consolidation plan will make sure it can continue to invest in its economic priorities while keeping debt obligations sustainable, the BTr added.
“It should also be said that an aggressive return to the pre-pandemic debt-to-GDP ratio of 39.6% is technically and politically infeasible,” BTr said in its annual report released on Nov. 27.
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