Borrowing for Growth: A High Stakes Gamble in the Philippines The Philippine government's plan to borrow $69 billion in 2027 is a high stakes gamble that underscores the nation's vulnerability to global uncertainties and domestic challenges.
The proposed debt represents a 20% increase from the previous year, with nearly half of it allocated for refinancing existing obligations. This trend raises concerns about the government's fiscal prudence.
According to Domini Velasquez, chief economist at China Banking Corp. , the approach is more focused on refinancing than prudent borrowing.