More than half of Filipinos’ income required to settle PH debt – NSCB
Christine Ubalde, InterAksyon.com
May 10, 2012

MANILA, Philippines – Filipinos have to set aside more than half of their incomes to pay off the country’s debts.

In a statement, the National Statistical Coordination Board (NSCB) said every Filipino is in hock for P31,391.

This amounts to more than half the per capita gross domestic product (GDP) of P61,719.

GDP is the amount of final goods and services produced in the country.

” Thus, if we want to pay off our debts completely, for every P100 worth of goods and services we produce in the domestic economy, we must use P51 for debt service,” the NSCB said.

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