ACCURATE

In a post circulating on Facebook, a publication material compared the national debt incurred under the administration of former president Benigno “Noynoy” Aquino III and that of outgoing President Rodrigo Duterte. It shows the Aquino administration’s debt amounted to P1.37 trillion during his term. While Duterte’s legacy, as the “greatest thieves ever,” leaves the country with P12.68 trillion in debt as of March 2022.

This is true.

The Facts: The national outstanding debt of a country (national debt) refers to the cumulative amount of net borrowing that the government has made from local and foreign creditors, and has not yet repaid. This not only refers to the debt incurred under a single administration but includes that of previous leaderships.

Based on the data from the Bureau of Treasury (BTr), when PNoy ended his term in June 2016, the national outstanding debt of the country was P5.94 trillion.

https://web.archive.org/…/uploads/2018/03/OS-Debt.pdf

However, the most accurate way of computing the total amount of debt a single administration incurred is to measure the net addition to the outstanding amount during a particular office. In June 2010, the outstanding debt was around P4.6 trillion.

https://www.treasury.gov.ph/…/National-Government-Debt…

Thus, comparing the numbers from June 2010 to June 2016, the national debt incurred during the Aquino administration indeed amounted to P1.37 trillion.

In contrast, the outstanding debt of the country has risen to 17.7% as of March 2022 to a record high of P12.68 trillion since last year.

https://www.treasury.gov.ph/…/NG-Debt-Press-Release…

This is a 113.2% increase from Aquino’s last term in June 2016.

Read the full story on The Baguio Chronicle.

Baguio Chronicle

Baguio Chronicle

The Baguio Chronicle is the fastest- growing news publication in Northern Luzon today. It was established on December 6, 2009 in Baguio City.

It is published by a partnership of like-minded individuals who formed the Baguio Chronicle Media Inc. It has its own printing plant and image-setting equipment.

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