Posted 11/19/2023, 6:13:00 PM
Philippine Debt Manageable as Debt-to-GDP Ratio Improves, Says Central Bank Chief
- Debt-to-GDP ratio at 61% and going down, not scary compared to other countries according to Diokno
- Expects debt-to-GDP ratio to continue to decrease
- Debt-to-GDP improved to 60.2% in Q3 from 61% in Q2
- Economists believe debt manageable as long as economy grows faster than liabilities
- Debt-to-GDP still above 60% threshold for emerging economies
- Ahead of target to bring ratio below 61.4% this year
- Majority of debt is domestic to minimize foreign exchange risks
- Large portion of debt has long repayment periods