• NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
Baguio Chronicle
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US
No Result
View All Result
Baguio Chronicle
No Result
View All Result
Home Fact Check

FACT CHECK: PNoy administration incurred a debt of P1.37 trillion, while the national debt increased to P12.68 trillion under the Duterte admin #FactsFirstPH

Baguio Chronicle by Baguio Chronicle
June 3, 2022
in Fact Check
Reading Time: 5 mins read
FACT CHECK: PNoy administration incurred a debt of P1.37 trillion, while the national debt increased to P12.68 trillion under the Duterte admin #FactsFirstPH
19
SHARES
69
VIEWS
Claim: The PNoy administration incurred a debt of P1.37 trillion, while the national debt increased to P12.68 trillion under the Duterte admin.
Rating: TRUE
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. The pubmat shows PNoy 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…
2010.pdf
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 PNoy’s last term in June 2016.
As it stands, the net addition to the national debt of the country is P6.74 trillion under the Duterte administration.
Outstanding debt is projected to peak at P13 trillion by the end of 2022.
https://business.inquirer.net/…/next-presidents-yoke-ph…).
According to the IBON Foundation, this is “the biggest debt burden on the Filipino people since the Marcos dictatorship.” (https://www.ibon.org/ng-debt-under-du30-ao-mar2022/
Why we fact-checked this: Macroeconomic factors and statistics are some ways we can examine the performance of national leaders. As the Duterte administration comes to an end, we must scrutinize what his 6-year term has amounted to and whether the economy he established truly worked for the country and the Filipino people.
#FactsFirstPH
ADVERTISEMENT
ADVERTISEMENT
Previous Post

FACT CHECK: Nutribun was the “icing on the cake” of the programs of former President Ferdinand Marcos Sr. #FactsFirstPH

Next Post

Solid North: not a bus but a political juggernaut (1)

Baguio Chronicle

Baguio Chronicle

Hailed by the Philippine Press Institute’s Annual Community Press Awards for Excellence as the country’s Best Edited Community Newspaper. Best in Photo Journalism-Weekly 2015 & 2016 and Best in Environmental Reporting-Weekly in 2018.

Related Posts

FACT CHECK: Philippines has one of the lowest inflation rates in the world #FactsFirstPH

FACT CHECK: Philippines has one of the lowest inflation rates in the world #FactsFirstPH

March 15, 2023
FACT CHECK: President Ferdinand ‘Bongbong’ Marcos Jr. did not get a special diploma from UA&P #FactsFirstPH

FACT CHECK: President Ferdinand ‘Bongbong’ Marcos Jr. did not get a special diploma from UA&P #FactsFirstPH

March 14, 2023

FACT CHECK: Ninoy Aquino was hopelessly in love with Imelda Marcos #FactsFirstPH

FACT CHECK: Marcos Administration to provide cash aid amounting to 9 trillion pesos #FactsFirstPH

FACT CHECK: University of the Philippines will be closed down following a P2.5-billion budget cut #FactsFirstPH

FACT CHECK: Transport strike is communist #FactsFirstPH

Latest Stories

New Heights – Millstones and milestones

March 28, 2023

On Point – Flight may equate to guilt

March 28, 2023

Rooster’s Tales – Igorots red-tagged!

March 28, 2023

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.

© 2022 The Baguio Chronicle Website Design and Development by Neitiviti Studios.

No Result
View All Result
  • NEWS
    • NATION
    • CORDILLERA
  • BUSINESS
  • GREEN
  • OPINION
    • EDITORIAL
  • FEATURE
  • FACT CHECK
  • HEALTH
  • LIFESTYLE
  • LITERATURE
  • SPORTS
  • ADVERTORIALS
  • ABOUT US
    • CONTACT US

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In