PUBLIC sector loans last year more than doubled from the amount of loans taken by the government in 2017, data released this week by the Bangko Sentral ng Pilipinas (BSP) revealed. While this may be alarming to some and is, in fact, a historically high increase in debt on a year-on-year basis, there is no serious cause for concern.

Public sector loans are debts that are either incurred or guaranteed by the government, and come in the form of bonds sold by the Treasury, loans for specific projects, or loans for programs. In 2018, the government took on $7.355 billion in public sector loans, a 111-percent increase from $3.486 billion in 2017.

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