Government Debt Hits Record High of P15.69T in July
Monday, 2 September 2024, 23:05
Government Debt Hits Record High
In July, government debt surged to a staggering P15.69 trillion, marking a significant new high. This uptick is largely attributed to the issuance of new government securities and ongoing project loans, which have fueled the growth in national indebtedness.
Factors Contributing to the Increase
- New government securities issuance has been a primary driver.
- Project loans are contributing to this record level.
- Some financial activities are starting to offset the rise.
As this trend unfolds, the financial community remains vigilant, assessing the potential impacts on the economy and future fiscal policy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.