Duterte’s Borrowing Binge

December 22, 2020

by IBON Media & Communications

Php92,190 DEBT PER FILIPINO. Government’s outstanding has reached a whopping Php10 trillion so far under the Duterte administration as of October. With a 108.8 million population and 24.7 million families, each Filipino in effect owes Php92,190 and each Filipino family owes Php405,636. Half of families earn Php22,000 or less monthly – which means that the average Filipino family owes as much as it earns in 18 months or over one-and-a-half years.