BusinessWorld E-paper
April 22, 2022
THE Philippine economy needs to grow above six percent annually in the next five to six years to reduce the country’s debt, Finance Secretary Carlos G. Dominguez III said on Thursday.
“The biggest challenge for the next administration is really to grow out of the debt that we incurred during the pandemic, which was natural because our revenues went down due to the lockdowns we increased expenditures,” he told Bloomberg Television. “The next administration would have to design policies and stick to very strict fiscal discipline to grow out of this debt problem.”
