Philippine Government Debt Hits Record High but Expected to Decrease

Philippine government debt hit a record high of P15.18 trillion in February due to more local borrowing and higher interest rates
Neda chief Arsenio Balisacan says debt is still under control and sustainable
Debt-to-GDP ratio is forecast to decrease from 60% currently to 55-56% by end of current president's term
This is well below the 70% threshold considered concerning for emerging economies
Government projects lowering budget deficit from 5.6% of GDP in 2024 to 3.7% in 2028, further reducing debt-to-GDP ratio