PH debt ratio worsens on higher budget deficit

THE general government (GG) debt-to-gross domestic product (GDP) ratio rose in the first half of 2017 on the back of a higher budget deficit, the Finance department reported during the weekend.

The ratio — used by debt watchers such as Fitch Ratings, Moody’s Investors Service and S&P Global Ratings to assess the creditworthiness of sovereign borrowers — worsened to 36.4 percent from 35.3 percent a year earlier, the department said in a statement.