Philippine debt service payment

As taxes and other revenues do not catch up with spending, public borrowing to finance the deficit continues and thus, the level of public debt remains high. Which results in high debt service spending, both interest payment and principal amortization. Here are the numbers, primary data from DBM’s Budget of Expenditures and Sources of Financing 2012.

We should take a deep lesson from the on-going debt crisis in the US, Europe, Japan and other countries, rich and developing alike.

 

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