‘DEBT TRAP’
This is how the Makabayan bloc in the Lower House of Congress described the 2025 national budget of President Ferdinand “Bongbong” Marcos Jr.’s administration, amounting to P6.352 trillion. Because of this, it is said that each Filipino family will have a debt of up to P558,114 next year, which is deemed unjust because as they continue to suffer as the administration is burying them in debt.
“This budget is like a huge debt trap that Filipinos will surely bear next year. It’s a debt-driven disaster waiting to happen,” said Gabriela party-list Rep. Arlene Brosas.
The lawmaker made the statement because in 2025, the allocated budget for government debt interest payments will increase by P117.6 billion, from the current P670.4 billion in 2024 to P848 billion.
“This administration is borrowing excessively. Each Filipino family now owes P558,114 but where does the borrowed money go? To expensive infrastructure projects that ordinary citizens do not benefit from,” the lawmaker added.
This happened because in the past 23 months, the Marcos Jr. administration borrowed P204.6 billion per month, double the amount borrowed by former president Rodrigo Duterte.
The lawmaker also questioned the P1.327 trillion, equivalent to 20.9% of the 2025 national budget, allocated to the Build Better More program and other infrastructure projects that only favored contractors allegedly benefit from.
metrosundaily
