Philippine Debt-to-GDP Ratio Reached 54.5% in 2020
- Marco Suarez
- February 11, 2021
- 8:43 am
The recession in 2020 caused by economic challenges and international borrowing raised to withstand the coronavirus pandemic brought the debt-to-GDP ratio of the Philippines to 54.5%, a 14-year high.
The debt of the country by the end of 2020 was recorded at ₱9.79 trillion.
Luis Dumlao, Ateneo de Manila University economics department chair, said “At 85%, people start to think you are in danger. We are far off from it,”
Source: Inquirer
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