Ian Nicolas Cigaral (Philstar.com) – January 13, 2021 – 8:38am MANILA, Philippines — The national government closed 2020 with a heavier debt burden as expected, no thanks to rising pandemic costs and falling tax receipts that forced a borrowing binge. On Tuesday, Finance Secretary Carlos Dominguez III said emerging data showed outstanding state debt was equivalent to 53.5% of gross domestic product (GDP) last year, the highest since 2006. Final data will not be released until next month when yearend GDP figures will have become available, but higher liabilities were already projected as early …
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