Gov’t Debt Down Relative to GDP
The Aquino administration’s efforts to get its finances in order continued to pay dividends as official data released Friday, 2 May, showed the state’s indebtedness, measured as a proportion of the gross domestic product, declined at the end of last year. The general government’s debt relative to the size of the economy declined to below 40 percent last December as a result of more efficient spending and prepayment of obligations, according to the Department of Finance.
Source: Philippine Daily Inquirer