Philippines Sees Debt-to-GDP Ratio Falling to 50% by 2028

The Philippines expects the government’s debt-to-gross domestic product ratio to decline to about 50% by 2028 due to strong economic growth, Finance Secretary Benjamin Diokno said.

The ratio climbed to 62% this year from below 40% before Covid-19 hit as revenue fell while pandemic-related spending rose, Diokno said in a mobile-phone message on Saturday.

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