Dominguez: Lowering PH debt top task for next admin

Finance Secretary Carlos Dominguez III stated that reducing the country's debt should be the top priority for the next administration.

The debt-to-GDP ratio rose to 60.5% in 2021, up from a historic low of 39.6% in 2019 due to pandemic-related borrowing.

Dominguez emphasized the need to grow the economy faster and invest in the future while lowering the fiscal deficit to cover only infrastructure investments.

He also expressed readiness to brief presidential candidates on how to manage the inherited debt, which stood at P11.73 trillion by the end of 2021.