THE Bangko Sentral ng Pilipinas (BSP) believes that the country's expanding debt burden is not yet alarming given its composition. And that, in fact, foreign debt, rather than total debt as a percentage of GDP, is fairly reasonable. The country's foreign debt-to-GDP ratio improved to 26.5 percent from 26.6 percent a quarter before, reflecting higher economic development in the second quarter, it noted. The country's GDP jumped by 11.8 percent in April to June this year, ending the recession. That is a long, long time metric being used by those who would like to join the Euro community — 60-percent debt-to-GDP ratio and a deficit-to-GDP ratio of 3 percent.

Source: Manila Times October 08, 2021 14:26 UTC