Vice Pres. Leni Robredo Reveals Side on PH Debt
LENI ROBREDO – The presidential aspirant and Vice President spoke on the debt of the Philippines which has ballooned to P11.9 trillion as of September.
The Philippine national government is vocal about borrowing money amid the tough fight against the COVID-19 pandemic. The country also borrowed money to procure vaccines in pursuit to achieve population protection at the soonest time possible.
To secure population protection, at least 70 million people have to be vaccinated against COVID-19. However, amid the right against the pandemic now, there are accusations of mismanagement in using the COVID-19 response funds. Recently, the Bureau of Treasury reported that the debt of the country has reached P11.9 trillion as of September.
The huge debt of the Philippines sparked different reactions from the people. Recently, Vice Pres. Leni Robredo spoke about it.
Based on a report on ABS-CBN News, Vice Pres. Leni Robredo stressed that borrowing money is not necessarily bad but the amount borrowed must be used properly. She recalled that the debt-to-GDP ratio was over 40 prompting a space for some debts.
However, according to the Vice President, the problem in the Philippines is that the funds are supposedly not used well. She stressed that it is “useless” if the government keeps on borrowing money but it goes to corruption and not for the fight against the pandemic.
“Alam natin na umutang na tayo nang umutang, iyong korapsyon ang laki-laki pa rin,” the Vice President said.
Based on the report, Vice Pres. Leni Robredo stressed that debt is necessarily bad but it has to be controlled and the amount borrowed must serve the right purposes.
Robredo is one of the presidential aspirants for the Election 2022. According to her, if she wins president next year, she wants to free the Filipinos from a lot of things caused by the COVId-19 pandemic like the return of the face-to-face classes in low-risk areas. Her office has several programs in line with the fight against the pandemic like the online consultation and she wants it to benefit more people.
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