PH debt: Best or worst position in years?

President Benigno Aquino III not only failed to curb the country’s poverty and debt burden, but also turned out to be the “biggest loan addict,” civic group Freedom from Debt Coalition (FDC) claimed, saying he will leave his successor with P6.4 trillion ($134.46 billion) of national government outstanding debt. 

However, Finance Secretary Cesar Purisima rebuffed this claim, saying that on the contrary, the country is much better off now than in the past. “By virtually any sensible measure – that is to say, on indicators that matter – we are much better off today than we were 6, or even 18 years ago with the earliest comparable annual debt data,” Purisima said.

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