NG debt-to-GDP ratio improves | The Manila Times

THE country’s debt-to-gross domestic product (GDP) ratio has improved following the stronger-than-expected third-quarter growth print.

The national government (NG) debt-to-GDP ratio — a measure of debt sustainability — improved to 60.2 percent from 61.0 percent, the Bureau of Treasury said on Thursday.

“With the latest development, NG’s end-of-year debt ratio is likely to be lower than the 2023 Medium-Term Fiscal Framework (MTFF) target of 61.4 percent,” it said in a statement.

“Moreover, the NG debt-to-GDP ratio is on pace to fall below 60 percent earlier than the 2025 MTFF commitment,” it added.

The deficit to GDP, meanwhile, rose to 5.71 percent from 4.77 percent in the second quarter of this year but was lower than the 6.45 percent registered in the third quarter of 2022.