Speaker Ferdinand Martin Romualdez welcomed the stable credit outlook of Fitch Ratings for the Philippines, calling the decision “an unequivocal vote of confidence” in the socioeconomic agenda of the Marcos administration.
The proposed Maharlika Investment Fund (MIF) would only worsen the country’s local and foreign debt, Sen. Risa Hontiveros on Wednesday warned as she questioned the propriety of forcing two state-owned banks to invest in the controversial sovereign wealth fund (SWF).
A House panel has approved the bill emancipating agrarian reform beneficiaries from the debt burden arising from the award of agricultural lands under the Comprehensive Agrarian Reform Program.
ACT Teachers Rep. France Castro sought a review of the government’s “debt binge” amid the dwindling funds intended for various programs such as social services.
The Marcos administration will be borrowing P2.2 trillion next year to finance its programs and projects and will be paying the P611 billion loans of the previous administration.
Batangas Rep. Ralph Recto said the State of the Nation Address (SONA) of President Ferdinand Marcos Jr. is “data-driven SONA which paints the future using numbers.”
CIA chief Bill Burns on Wednesday blamed “dumb bets” on high-debt Chinese investment as a factor in Sri Lanka’s economic collapse, saying it should serve as a warning to other nations.
The Department of Budget and Management (DBM) has shrugged off the country’s mounting debt as “reasonable.”
The outgoing administration of President Rodrigo Duterte said it still plans to reduce the country’s debt, which stands at P12.76 trillion as of end-April.
Senator Sonny Angara on Friday said he was open to the idea of a new stimulus bill to pump-prime the economy by providing financial aid to struggling families.
