DOF: Gov’t can still afford to borrow despite record debt

DOF: Gov’t can still afford to borrow despite record debt

President Marcos’ chief economic manager brushed off concerns over the country’s fiscal position, assuring markets that the government remains financially stable and still has room to borrow further if needed to cushion the economy from energy shocks.This comes against the backdrop of national government (NG) debt ballooning to historic highs, consequently swelling its share of the Philippines’ overall economic output, measured by gross domestic…