As we approach the end of 2024, the Philippines is projected to have a national debt of P15.8 trillion, as reported by the national treasurer. Finance Secretary Benjamin Diokno assured the public that there’s no need for concern over the government’s borrowing.
According to Diokno, even though the underprivileged might not pay significant taxes, they reap numerous benefits such as free education and health care, highlighting that the national budget is pro-poor.
Following Diokno’s clarification, Senator Ronald dela Rosa remarked, “Don’t panic… It’s just debt.”