Philippines targets 60.6% debt-to-GDP ratio by 2024 amid concerns over economic growth.

The Philippines' debt-to-GDP ratio is unlikely to return to pre-pandemic levels due to elevated debt, but the government aims to reduce it to 60.6% by 2024 and below 60% by 2028. Aggressively reducing the ratio could hinder economic growth and delay reforms. The Treasury plans to balance debt reduction with public investments through robust economic growth and declining deficits.

November 28, 2024
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