The Philippines continued to be faring well despite higher debt ratio, as the Department of Finance explained that the nation’s economic fundamentals should be considered in determining credit risk.
Diokno pointed out that the Philippines was not among the nations with high probability of debt default. Earlier, Diokno said the Marcos administration was not aiming to bring back the government’s pre-pandemic debt-to-GDP ratio of around 39 percent. “Right now, national debt to GDP ratio as we expect it to be around 61.8 percent. It will be back to 61.3 percent by 2023 and then go down to 60.6 percent by 2024, and then 59.3 percent by 2025, 57.7 percent by 2026 and 2027 to 52.5 percent,” Diokno said.
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