In a post, Karen Davila expressed thoughts about the “debt” of the people.
Every Filipino now has a PHP 142,000 debt because of the country’s debt, and Karen Davila shares her thoughts about this.
Senate Committee on Finance Chairperson Sherwin Gatchalian presented a computation during the budget briefing of the Development Budget Coordination Committee (DBCC) on the proposed 2026 national budget. It showed that as of the moment, each Filipino now has a debt of PHP 142,000.00, and this is because of the country’s debt that has ballooned to PHP 17 trillion.
“Because of our debt accumulation, each Filipino now owes about 142,000. That’s about 80% of its household consumption per capita,” Senator Gatchalian said on Tuesday. He noted that since 2023, debt has expanded faster than the economy, driven by factors such as the war in Ukraine and other geopolitical challenges.
He stated that we are now allocating more funds to interest payments rather than addressing our actual needs. The senator then added that if this goes unmanaged, “the Marcos administration will end its term by accumulating the highest debt accumulation out of all administrations.”
Department of Finance (DOF) Secretary Ralph Recto, on the other hand, sees a different perspective from this. He said this could also mean savings because “one man’s liability is one man’s asset.”
Recto expressed as well that the debt to Gross Domestic Product (GDP) is not increasing.
Many reacted to this, and among those was famous broadcaster Karen Davila. She aired her thoughts about this through a post on her social media page, and she lamented how far the amount could go if only the officials did their job right and were not corrupt.
If managed responsibly, the funds could have been directed toward our children’s education, ensuring food on every table, and providing free medical care in hospitals. Instead, the budget, most of it, was pocketed by politicians and government officials.
What can you say about this? Let us know in the comments!