Senator warns government vs overborrowing amid budget debates

A money changer employee shows US dollar bills at their shop in Quezon City on Friday (September 30, 2022).

STAR / Michael Varcas

MANILA, Philippines — Sen. Risa Hontiveros warned the Marcos administration against overborrowing as the Senate continues to debate the national budget for 2023. 

This comes after latest data from the Bureau of the Treasury showed that total borrowings for September soared to P488.64 billion from the P215.106 billion in obligations in the same month last year, posting a 127% increase.

“Wag sanang tularan ni President Marcos si ex-President Duterte na nagpumilit umutang sa China kahit hindi naman kailangan. Kaya, President Marcos, hinay-hinay lang sa pera ng bayan,” Hontiveros said.

(President Marcos should not imitate ex-President Duterte who insisted on borrowing money from China even though it was unnecessary. So, President Marcos, just take it easy on the people's money.)

Full Story: https://www.philstar.com/headlines/2022/11/11/2223118/senator-warns-government-vs-overborrowing-amid-budget-debates