Philippines

1605 readers

1 users here now

Mabuhay at maligayang pag-alis sa Lemmy! ✈️

An abandoned community for the Philippines and all things Filipino! 🇵🇭

Started out as a Reddit alternative during the blackout from Jun 12-21, 2023 with over 1k members in just a few days. Fizzled faster than the "I Didn't Do It" kid after a month until it became the internet's Centralia in less than a year.

Filipino artists whose works were featured on our daily random thread covers.

founded 1 year ago

MODERATORS

[email protected]

Gov't to borrow P2.46 trillion for 2024 budget: Quimbo (news.abs-cbn.com)

submitted 1 year ago by [email protected] to c/[email protected]

3 comments fedilink hide all child comments

MANILA — The government will borrow P2.46 trillion to partly fund the P5.768 trillion national budget for next year, Rep. Stella Quimbo said Tuesday.

Some 43.32 percent of the 2024 national budget will come from borrowings, while the remaining 57 percent will be financed by local revenues, said Quimbo, senior vice chair of the House Appropriations Committee.

"From borrowings, it would be P2.46 trillion," she said during the House of Representatives plenary deliberations on next year's proposed budget.

Quimbo also said that the 2024 national budget sets aside resources for programs critical in accelerating the nation's growth.

top 3 comments

sorted by: hot top controversial new old

[–] [email protected] 2 points 1 year ago

How much is that for confidential funds?

[–] [email protected] 1 points 1 year ago (1 children)

Is this sustainable almost 50% of budget are now borrowings?

[–] [email protected] 2 points 1 year ago

A big chunk of that will probably be used to service previous debt iirc

Yes you're right I used the new debt to pay the old debt