PH debt-to-GDP up in Q1 as domestic borrowings rise

    MANILA, Philippines - The share of government debt to the economy rose to 44 percent at the end of the first quarter as the increase in domestic borrowings outpaced the four-year low economic growth. The national government debt-to-gross domestic product (GDP) ratio at end-March increased from 42.6 percent a year ago, Department of Finance (DOF) Undersecretary and chief economist Gil S. Beltran said in an economic bulletin Thursday. "External debt [share to GDP] dropped from 14.9 percent to 14.7 percent, while domestic debt rose from 27.6 percent to 29.3 percent as the government shifted to local sources of borrowing to reduce foreign exchange risks," Beltran sa...

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