THE OUTSTANDING public debt of the Philippines increased by P1.9 trillion since the loan addict Duterte came to power. Last May, the debt peaked at P7.9 trillion, which is higher by 32% than the P6 trillion debt reported in July 2016. This is also 1.7% higher than the P7.8 trillion debt reported in Apil 2019. This is already the highest debt recorded in the country’s history.

As a result, the net debt per capita of every Filipino increased by 27%, from P58,064 in July 2016 to P73,672 last May. This drastic increase is a consequence of the Duterte regime’s excessive borrowings to fund its grandiose infrastructure program which it expects to temporarily boost the economy.