Government debt stock fattens in October — TreasuryA general view of buildings in the financial district of Makati City on November 10, 2022. MANILA, Philippines — The national government’s debt stock increased in October and has already exceeded the expected pile by the end of the year, as the Marcos Jr. administration took on new debts to finance its programs. The state’s debt stock climbed at the onset of the pandemic, due in part to the Duterte administration’s borrowing spree to fund its pandemic response. A fat debt stock would mean more taxpayers' funds are needed for debt servicing in the coming years. “What is important is that we outgrow our debt so that the overall debt to gross domestic product ratio can fall,” he added.
