Gov’t efforts to manage debt, reduce poverty incidence lauded
Manila: A House leader on Monday cited the government’s fiscal strategies to keep the country’s debt manageable, reduce poverty incidence and improve tax collection efficiency. During the plenary debates on the proposed PHP6.352 trillion 2025 national budget, House Appropriations Committee senior vice chair and Marikina City 2nd District Rep. Stella Quimbo allayed concerns over the rising national debt, which stands at PHP15.69 trillion, noting that the government is on track to reduce its debt-to-gross domestic product (GDP) ratio from the current 60.9 percent to 56.3 percent by 2028. She explained that the key to managing debt is ensuring borrowed funds