The Philippine government is set to borrow over P2 trillion in 2024 to fund portions of the proposed P5.768 trillion national budget next year.
Data from the Department of Budget and Management’s Budget of Expenditures and Sources of Financing for Fiscal Year 2024 showed the borrowing program next year stands at P2.46 trillion, higher than the P2.207 trillion borrowing program this year.
At a Palace briefing, DBM Undersecretary Joselito Basilio said borrowing “would be 11% of the pie,” “consistent with the medium term fiscal framework.”brought the country’s outstanding sovereign debt to a new record high of P14.15 trillionThe month-on-month increase was attributed “primarily due to the net issuance of domestic securities,” according to the Treasury.
In a chance interview, Basilio said that in the coming years, the government’s borrowing program will gradually decline as the country recovers from the COVID-19 pandemic. “From now until 2025 and 2026, it [borrowing] will peak… by 2027 and 2028, it will go down,” Basilio said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Toyota Adds Power, Tech To 2024 Fortuner | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Baca lebih lajut »
DBM submits P5.768-T expenditure program for 2024 to House of RepresentativesBudget Secretary Amenah Pangandaman on Wednesday officially submitted the P5.768-trillion proposed budget for 2024 to the House of Representatives, reflecting a 9.5% increase from this year’s appropriations.
Baca lebih lajut »
Proposed 2024 budget sets aside P20-B for healthcare workers' allowances, COVID-19 compensationA total of P20 billion has been allocated for the allowances and COVID-19 compensation package for healthcare workers in the budget for fiscal year 2024.
Baca lebih lajut »
Marcos to visit Vietnam in January 2024 – DFA chiefJUST IN: President Ferdinand Marcos Jr. will pay an official visit to Vietnam next January, Foreign Affairs Secretary Enrique Manalo says.
Baca lebih lajut »
Marcos says 2024 National Budget key to PH transformationPresident Ferdinand 'Bongbong' Marcos Jr. hopes that Congress will approve the proposed 2024 National Budget, saying their approval would bring the Philippines one step closer to achieving the Government's transformative vision for the country.
Baca lebih lajut »