Philippines' debt-to-GDP ratio balloons to 63.5 percent as of end March

ABS-CBN News

<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2034390" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><p>The Philippines&#x27; debt-to-GDP ratio ballooned to 63.5 percent in March from 60.4 percent in December, government data showed. <br/> <br/>The total is the highest since 2005 when the debt ratio reached 65.7 percent. It has been hovering below 40 percent before the COVID-19 pandemic.</p><p>It also breached the international debt-to-GDP threshold set at 60.4 percent.</p><p>As of the end of March, the country&#x27;s debt was at P12.68 trillion driven by the government&#x27;s heavy borrowings to fund its pandemic response and the administration&#x27;s Build, Build, Build program.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/05/22/ph-debt-hits-p1268-trillion-by-end-march-2022">Philippine debt hits P12.68 trillion as of end March 2022</a></li></ul><p>Economic managers have said that the current debt level remains manageable as long as the government maintains robust economic growth.</p><p>If mismanaged, high debts could put the country&#x27;s investment-grade ratings in jeopardy. So far, it has kept its credit ratings during the pandemic due to fiscal prudence and strong macroeconomic conditions amid global downgrades.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/18/22/lending-seen-to-support-growth-as-fitch-affirms-ph-rating">Lending growth to support recovery as Fitch affirms PH’s ‘BBB’ rating: BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/07/16/20/moodys-affirms-philippines-baa2-rating-keeps-stable-outlook">Moody’s affirms Philippines’ Baa2 rating, keeps &#x27;stable&#x27; outlook</a></li>	<li><a href="https://news.abs-cbn.com/business/05/27/21/sp-global-ratings-affirms-philippines-investment-grade-bbb-rating">S&amp;P Global Ratings affirms Philippines&#x27; investment grade BBB+ rating</a></li></ul>

The Philippines' debt-to-GDP ratio ballooned to 63.5 percent in March from 60.4 percent in December, government data showed. 

Philippines' debt-to-GDP ratio balloons to 63.5 percent as of end March | ABS-CBN

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Philippines' debt-to-GDP ratio balloons to 63.5 percent as of end March

Philippines' debt-to-GDP ratio balloons to 63.5 percent as of end March

ABS-CBN News

Published May 13, 2022 09:59 AM PHT

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Updated May 13, 2022 10:06 AM PHT

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Debt to GDP

economy

borrowing

Philippine debt

national debt

credit rating

investment grade

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