The proposed budget is P6,352 trillion, and the projected revenue collection of P4.45 trillion or a deficit of P1.902 trillion /365 = 5.21 billion per day. Thats the amount of borrowing we have to do in a day. The annual budget is P6.352 = P17.402 billion per day, sourced from P12.19 revenues. And the balance from borrowings.
We wonder how our congressmen, legislators and govt officials can spend that much, and rely on deficit spending (financed by debt) So dont wonder why our debt stock that was only P11 trillion at the start of the year is now over P15.00 trillion As of the end of June 2024, the Philippines' national debt stock was P15.48 trillion. This is a 9.4% increase from the same period in 2023.
Department of Treasury P15.18 trillion as of February 2024
