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The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines. As of the end of October 2024, the total national debt of the Philippines amounts to ₱15.1889 trillion ($273.9 billion). [1] Total outstanding debt: ₱16.02 trillion ($276.27 billion) (61.3% of GDP ...
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
The Supreme Court releases its ruling dated November 13, 2023, declaring that the estate of former President Ferdinand Marcos presently administered by President Bongbong Marcos has no ownership rights over a 57.68-hectare (142.5-acre) property in Paoay, Ilocos Norte by declaring the 25-year lease contract between the former president and the ...
In November 2024, Philippine authorities subpoenaed vice president Duterte after she threatened to have Marcos, his wife, and the House Speaker assassinated if she were killed. Marcos condemned her remarks as a criminal threat and increased his security, while Eduardo Año called the threats a national security concern.
A comparative graph of Revenue and Tax Effort from 2001 to 2010 [3] A comparative graph of Tax and Non-Tax Revenue contribution from 2001 to 2010 [4]. The Philippine government generates revenues mainly through personal and income tax collection, but a small portion of non-tax revenue is also collected through fees and licenses, privatization proceeds and income from other government ...
Marcos ran for president on a campaign platform centered on national unity and continuity of the policies of Rodrigo Duterte, his predecessor. [20] [21] He won the 2022 elections, receiving 31,629,783 (58.77%) votes out of a total of 56,097,722, beating his closest rival, Liberal Party member and Vice President Leni Robredo by over 15 million votes.
Rodrigo Duterte's six-year tenure as the 16th President of the Philippines began on June 30, 2016, succeeding Benigno Aquino III.He was the first president from Mindanao, the first president to have worked in all three branches of government, and the oldest to be elected. [1]
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.