Daily News

DOF: Philippines has capacity to pay loans

The Department of Finance (DOF) has assured the public that the Philippines has the capacity to pay its loans even as it ramped up its borrowings to finance measures to address the COVID-19 pandemic. Finance Secretary Carlos Dominguez allayed fears that the government is getting buried in debt amid the global health crisis. According to the finance chief, the government is increasing its borrowings to finance the growing spending requirements due to COVID-19 amid weak revenue generation.