lubog sa utang

22 May 2008

received from the Freedom from Debt Coalition two FDC documents.

a comprehensive brief of the philippine debt and fiscal situation, and a listing of illegitimate debt cases. both too lengthy to post here but at least i can update my figures.

at php 41.26 exchange rate, outstanding nationalgovernment debt is

US $ 89.24 BILLION or Php 3.712 TRILLION

debt service for 2008:

  • php 295.75 BILLION for interest payment
  • php 328.34 BILLION for principal amortization
  • php 624.09 BILLION total

in contrast here’s the Department of Budget & Management’s proposed spending for

  • education php 181.86 billion
  • health php 22.90 billion
  • agriculture & agrarian reform php 41.18 billion
  • environment php 10.06 billion
  • military php 61.42 billion
  • total php 317.42 billion

wonder no more why gma refuses to lift taxes on oil and electricity. in her book, mas importanteng magbayad ng utang (para makautang muli) kaysa dinggin ang hinaing ng taongbayan.

Posted in advocacy, debt

One Response to lubog sa utang

  1. May 26, 2008 at 6:50 am

    Re: in her book, mas importanteng magbayad ng utang (para makautang muli) kaysa dinggin ang hinaing ng taongbayan.

    Kasi, she wants to gain brownie points with international institutions.

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