The ratio of popular authorities debt to the u . S .’s gross domestic product (GDP) dropped barely in the first semester of 2016 as the Philippine financial system grew faster than the growth in its responsibilities, the Department of Finance (DOF) stated on Sunday.
DOF facts launched Sunday confirmed the overall authorities debt-to-GDP advanced to 35.4 percentage as of give up-June from 36.1 percent a year in advance and from 35.8 percent as of give up-March.
The wellknown government debt-to-GDP measures the quantity of a rustic’s gross government debt as a percent of its GDP. It is a trademark used by credit score agencies inclusive of Fitch Ratings, Moody’s Investors Service and S&P Global Ratings to assess the creditworthiness of sovereigns.
In absolute phrases, wellknown government extended by means of four.3 percentage to P4.88 trillion as of end-June 2016 from P4.68 trillion a year in advance.
However, the growth registered by means of trendy authorities debt become offset by way of the better GDP boom inside the first six months of the year. The GDP grew with the aid of 6.9 percentage in January to June from five.Five percent a yr in advance.
The wellknown authorities debt-to-GDP ratio is a trademark utilized by credit score organizations to assess the creditworthiness of sovereigns.
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