THE SHARE OF THE GOVERNMENT’S DEBT payments to the country’s gross domestic product is expected to go down to 7.8 percent next year from 8.3 percent seen this year.
This was according to projections made by the Department of Finance, which said that a declining debt service-to-GDP ratio meant that a bigger portion of the economy’s income could be used for productive spending rather than for paying the liabilities of the state.
The government is scheduled to pay P681.5 billion in debts next year, up 7 percent from the P636.1 billion this year.
