The national government’s outstanding debt-to-gross domestic product (GDP) level stood at 60.9 percent as of end-June 2024, the Bureau of the Treasury (BTr) reported yesterday.
Data released by the BTr showed the debt level eased from the 61 percent recorded a year ago, but slightly rose from the 60.1 percent as of end-March this year.
The national government’s total outstanding debt has reached P15.48 trillion as of the end of June.
The national government’s fiscal deficit settled at 5.3 percent of GDP for the quarter and 4.9 percent for the first half of the year.
The 2024 fiscal turnouts reflected an increase from the 4.8 percent deficit-to-GDP ratio both for the second quarter and first semester of 2023.
For this year, the government is projecting a full-year fiscal deficit equivalent to 5.6 percent of GDP coming from 6.2 percent in 2023 in line with fiscal consolidation efforts.
Meanwhile, the debt ratio is programmed to hit 60.6 percent in line with the latest approved fiscal and growth assumptions of the Development Budget Coordination Committee.
