Duterte Ended Term With Nat’l Debt At P12.79T

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The Duterte administration ended with the national government’s debt stock swelling again after a slight dip in May, this time by 2.4 percent or P296 billion to P12.79 trillion at the end of June from P12.5 trillion a month earlier, according to the Bureau of the Treasury (BTr).

The BTr said in a statement the further increase in the state’s outstanding debt was due to a net issuance of government securities both locally and abroad—there were more new debts incurred than paid—as well as the weakening of the Philippine peso against the US dollar.

The latest population projection of the Philippine Statistics Authority, based on the 2015 census, suggests that there are now about 1…

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