MANILA – Malacañang on Thursday stated that there is nothing irregular with the government’s expenditure.
Acting Presidential Spokesperson and Communications Secretary Martin Andanar echoed President Rodrigo Duterte’s recent statement, saying that public funds are being used appropriately.
“What is important, the Chief Executive underscored, is there are no irregularities in government spending,” Andanar said in a press statement.
Andanar made the statement in response to presidential candidate Senator Panfilo Lacson’s remarks that it is “embarrassing” for a country’s leader to let his successor deal with the trillions of pesos in debt.
Lacson said on Wednesday that it would be a shame if the next administration had to bear the responsibility of settling the country’s debt rather than inheriting a “better Philippines”.
Andanar dismissed Lacson’s remarks as merely “part of election campaign rhetoric”.
“Senator Panfilo Lacson’s remarks on the Philippines’ outstanding debt is part of election campaign rhetoric,” he said.
Duterte had already explained why the country has to borrow money, Andanar added.
“Be that as it may, President Rodrigo Roa Duterte has already addressed this issue saying that there is a need for government borrowing to finance the administration’s programs and projects,” he said.
According to the data released by the Bureau of Treasury (BTr), the outstanding debt of the country grew to PHP12.09 trillion, as of end-February.
The BTr also stated that the country’s debt pile as of end-February was 0.5 percent or PHP63.83 billion higher than the PHP12.029 billion registered as of end-January.
The increase in the Philippines’ debt, according to the BTr, was caused by “currency fluctuations and net financing from both domestic and external sources”.
About 69.6 percent or PHP8.41 trillion of the country’s PHP12.09-trillion debt were domestic borrowings, while the remaining 30.4 percent of PHP3.68 trillion were sourced externally.
Duterte said on March 31 that it is “not bad to borrow,” as long as the money is not used for corrupt activities.
