P4.9t national debt: Each pinoy owes p51,675

[cobraKing]

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Foreign debt, which made up 44.3 percent of the country’s total borrowings, amounted to P2.085 trillion, while domestic debt stood at P2.826 trillion, according to the NSCB’S latest Sexy Statistics.

The average share of foreign debt under President Corazon Aquino was 46.4 percent, 40.4 percent under President Fidel Ramos, 46.2 percent under President Joseph Estrada, 45.5 percent under President Gloria Arroyo, and 42.2 percent under President Benigno Aquino 3rd.

Moreover, the NSCB said that in nominal terms, the country’s debt per capita increased at a yearly rate of 11.1 percent during the term of Mrs. Aquino, 7.1 percent in Ramos’ term, 18.3 percent under Mr. Estrada, 5.9 percent under Mrs. Arroyo, and 3.0 percent under Mr. Aquino.

In real terms, the annual growth rate of the Philippines’ debt per capita was 0.5 percent during the term of Mrs. Aquino, -1.0 percent under Mr. Ramos, 11.5 percent under Mr. Estrada, 1.2 percent under Mrs. Arroyo and -1.2 percent under Mr. Aquino.

Nominal value is a value expressed in money terms in a given year or series of years, while real value adjusts nominal value to remove the effects of price changes over time.

However, the NSCB said that per capita real gross domestic product (GDP) rose at an yearly rate of 0.6 percent under Mrs. Aquino, 1.3 percent under Mr. Ramos, 2.0 percent under Mr. Estrada, 2.7 percent under Mrs. Arroyo, and 1.8 percent under Mr. Aquino.

Percentage point difference between GDP growth and debt growth was +0.1 percent under Mrs. Aquino, +2.3 percent under Mr.Ramos, -9.5 percent under Mr. Estrada, +1.5 percent under Mrs. Arroyo, and +3.0 percent under Mr. Aquino.

On the other hand, the NSCB noted that as of December 2011, per capita real GDP was P61,719 while per capita debt was P31,391.

“Thus, if we want to pay off our debts completely, for every P100 worth of goods and services that we produce in the domestic economy, we must use P51 for debt service,” it added.

The NSCB said that in reality, debt service payments from 1986 to 2011 amounted to an average of 8.5 percent of GDP.

Debt service payments were highest during Mrs. Aquino’s term at 10.4 percent, followed by Mrs. Arroyo and Mr. Aquino, at 9.6 percent and 7.5 percent, respectively, then President Estrada at 6.2 percent. The lowest payments were made during Mr.Ramos’ term at 5.8 percent.

Debt service payments as percentage of outstanding debt averaged 14.7 percent from 1986 to 2011, the NSCB said.

“Looks like the women presidents wanted to pay our debt more!” the NSCB said.


Philippines News Link, PhilNews - Sen. Enrile: ‘Prepare for war’

[machinecult]

Pork Barrel

Filipino legislators are allocated large sums of the annual national budget (200 million pesos for each senator and 70 million for each representative) in a program called the Priority Development Assistance Fund. Politicians are often accused of misusing their allocations for selfish purposes, particularly through "kickbacks" and commissions from their projects. -- source: Wikipedia

Smells like bacon.

[lestat1116]

the government owes not the people.

[monroy]

^ Lami lechonon si Drilon kai daghan tambok juicy.. hahaha

OT: Stats seem to show that things are not too bad under Noynoy's admin.

[psyche54]

the government owes not the people.

Precisely!

Hehehehe, lami kaayo ang "Pork Barrel" sa mga senators & congressmen.

Every new High Profile SUV in the showrooms, palit dayon si Congressman....


hehehehehehe

[bryan]

yeah but still naa man gihapon mangawat gud. kaluoy pod sa ato nasod. daghan man unta ta og tax

[hayden]

OT: Stats seem to show that things are not too bad under Noynoy's admin.

On paper that is.

[cobraKing]

OT: Stats seem to show that things are not too bad under Noynoy's admin.

the NSCB said that per capita real gross domestic product (GDP) rose at an yearly rate of 1.8 percent under Mr. Aquino. 2 yrs pa lang na sa term...how much more if mka 6yrs na??

[bofox44]

Para asa man diay ang atong mga taxes na gipambayad?

[monroy]

On paper that is.

Everything objective is on paper. Everything else is subjective.