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Economic and Social Overview of the Philippines
-The Burden of Debt
The Debt
It is anything owed, specially a sum of money that one person owes to another. A person who owes the debt is called the debtor, and the one whom it owed is the creditor. .
Causes
Effect
SolutionCREDITOR
DEBTOR
CAUSES OF DEBT:1. PREMATURE LIFESTYLE ENHANCEMENT
2. DESIRE TO GET RICH
QUICK3. UNEXPECTED EXPENSES
EFFECTS OF DEBT:
1.DEBTOR GAINS FUNDS2.DEBTOR-CREDITOR RELATIONSHIPS MAY BE GOOD OR MAY NOT3.SOMETHING TAKEN
AWAY FROM THE DEBTOR
MANAGE YOUR MONEY PROPERLY…
SOLUTIONS FOR DEBT:
The 14th Congress Philippine Debt Audit
Campaign
Rebecca L. MalayTreasurer
Freedom from Debt Coalition
Growing Debt Problem (in trillion pesos)
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Aquino Ramos Estrada Arroyo
NG Contingent Liabilities
National Government (NG) Debts
Debt Service
Gross Borrowings
Sources: Bureau of Treasury for NG Debts and Contingent Liabilities, Bangko Sentral ng Pilipinas on Gross Borrowings, and Department of Budget and Management (General Appropriations Act) for Debt Service
Is the debt problem over?
Rebecca L. MalayTreasurer, Freedom from Debt Coalition
Sources: Bangko Sentral ng Pilipinas on Gross Borrowings, and Department of Budget and Management for Debt Service
Arroyo: Largest Borrowed, Largest Paid (in trillion pesos)
0.520.37
0.57
1.46
0.560.78 0.71
2.05
3.092.83
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Aquino (87-92) Ramos (93-98) Estrada (99-00) Total (Aquino,Ramos, Estrada)
Arroyo (01-06)
Gross Borrowings
Debt Payments
Record Breaker
Rebecca L. MalayTreasurer, Freedom from Debt Coalition
Government Expenditures 1987-2006 (in billion pesos)
0
100
200
300
400
500
600
700
8001
98
7
198
8
198
9
199
0
199
1
199
2
199
3
199
4
199
5
199
6
199
7
199
8
199
9
200
0
200
1
200
2
200
3
200
4
200
5
200
6
Aquino Ramos Estrada Arroyo
Debt Service (Interest plus Principal)
Education
Health
Social Security
Who suffers?
Rebecca L. MalayTreasurer, Freedom from Debt Coalition
Average national spending for education by administration show that based on 2000 prices, the amount spent per pupil fell during Arroyo’s time
Marcos (1981-85) : Php 3 027Aquino (1986-92) : Php 4 478Ramos (1993-95) : Php 4 959Estrada (1999-01): Php 5 830Arroyo (2001-04) : Php 5 467
*former Budget Secretary Benjamin Diokno, “Real State of the Nation”, 20 July 2007
Education Spending*
Health Spending*
Combined (NG and LGU) per capita health spending show that
Marcos (1981-85) spent Php 240Aquino (1986-92) Php 278Ramos (1993-98) Php 321Estrada (1999-00) Php 360Arroyo (2001-04) Php 303
*former Budget Secretary Benjamin Diokno, “Real State of the Nation”, 20 July 2007
Philippine s’ debt
Each Filipino owes
Php 47,039 to local and foreign
creditors
-As of April 2010
Philippine s’ debtDec. 13, 2010 Press Release:As of September 2010, the
National Government debt was recorded at
Php. 4,664.2 Billion-a decrease of Php. 27 Billion or 6% from end August 2010
level of Php 4,691.6 billion
The 2011 Budget
at a Glance
2010 2011
Proposed Budget
P 1.540 T
P 1.645 T
Local Government Units
P 297.5 B
P 300 B
GOCC P 39.3 B P 23.3 B
Dep’ts 2010 2011DepED P 175 B P 207.3 B
DPWH -NA- P 110.6 B
DND P 57.8 B P 104.7 B
DILG P 66.5 B P 88.2
DA P 41.2 P 37.7
Dep’ts 2010 2011DSWD P 15.4B P 34.3 B
DOH P29.3 B P 33.3 B
DOTC P 17.2 B P 32.3 B
DOJ -NA- P 14.3 B
DAR -NA- -NA-
THANK YOU
:)
Presenter: Ms. Stefany May P.
IndicoIII-6 BEEd