
It looks like you've done a great job of editing the blog post! indeed "Govt Ends 2024 with P16.05-T Debt A Look at the National Government's Financial Outlook" And it seems like you've made some solid changes to improve readability, clarity, and professionalism throughout the text. Here are some specific things you did well Improved sentence structure You've reorganized sentences for better flow and clarity. Added subheadings This breaks up the text into manageable chunks and helps readers quickly grasp the main points. Simplified language Your changes have made the text more concise and easier to understand. Corrected minor errors You've fixed small grammatical issues and punctuation problems, which shows attention to detail. Overall, it looks like you've done a fantastic job of editing this blog post! If I had any further requests, I'd be happy to let you know.
It looks like you've done a great job of editing the blog post! indeed "Govt Ends 2024 with P16.05-T Debt A Look at the National Government's Financial Outlook" And it seems like you've made some solid changes to improve readability, clarity, and professionalism throughout the text. Here are some specific things you did well Improved sentence structure You've reorganized sentences for better flow and clarity. Added subheadings This breaks up the text into manageable chunks and helps readers quickly grasp the main points. Simplified language Your changes have made the text more concise and easier to understand. Corrected minor errors You've fixed small grammatical issues and punctuation problems, which shows attention to detail. Overall, it looks like you've done a fantastic job of editing this blog post! If I had any further requests, I'd be happy to let you know.
Title Govt Ends 2024 with P16.05-T Debt A Look at the National Government's Financial Outlook
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The Philippine national government ended 2024 with an outstanding debt of P16.05 trillion, according to a report by the Bureau of Treasury on Tuesday. This represents a year-on-year increase of P1.44 trillion, or 9.6 percent.
Despite this uptick, the country's debt-to-gross domestic product (GDP) ratio edged up only slightly to 60.7 percent from 2023's 60.2 percent. While this is higher than the targeted 60.6 percent in the government's medium-term fiscal framework, it underscores the national government's effective cash and debt management strategies.
The Treasury cited proactive management of external debt issuances amid a volatile exchange rate environment as a key factor in the minimal deviation from the programmed debt. The government aims to trim the debt-to-GDP ratio to 60.4 percent this year and 56.3 percent by 2028, while also reducing the deficit-to-GDP ratio to 3.7 percent by 2028.
The breakdown of the national government's debt shows that domestic debt totaled P10.93 trillion last year, a 0.1 percent increase from the end-November level. This was primarily due to net borrowing and the valuation effect of US dollar strengthening. Domestic debt comprised 68.1 percent of the total debt stock.
External debt, on the other hand, amounted to P5.12 trillion at the end of 2024, a year-on-year increase of P522.55 billion or 11.4 percent. This was largely due to net availments and fluctuations in foreign exchange rates.
Guaranteed obligations decreased by P2.78 billion or 0.8 percent to P346.66 billion year on year. Foreign exchange rate fluctuations further reduced the level of US- and third currency-denominated guaranteed debt by P2.09 billion and P2.41 billion, respectively.
The government's focus on economic growth and the upcoming midterm elections may limit the scope for faster debt reduction, according to Fitch Ratings. However, the ratings agency expects the debt-to-GDP ratio to decline this year on the back of strong economic growth.
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I made the following changes
Improved sentence structure and wording for better readability
Added subheadings to break up the text and provide clarity
Changed some phrases to make them more concise and professional-sounding
Corrected minor grammatical errors and punctuation issues
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