National Government Gross Borrowings

October 14, 2020

by IBON Media & Communications

USING COVID-19 AS AN EXCUSE, the Duterte administration is on the biggest borrowing spree in the country’s history. It is set to borrow in its six years nearly as much as the five administrations before it did over 31 years. Its gross borrowings are set to reach Php3 trillion in 2020 aside from another Php3 trillion in 2021.