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-The Burden of Debt The 14 th Congress Philippine Debt Audit Campaign Rebecca L. Malay Treasurer Freedom from Debt Coalition.

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Presentation on theme: "-The Burden of Debt The 14 th Congress Philippine Debt Audit Campaign Rebecca L. Malay Treasurer Freedom from Debt Coalition."— Presentation transcript:

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2 -The Burden of Debt

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7 The 14 th Congress Philippine Debt Audit Campaign Rebecca L. Malay Treasurer Freedom from Debt Coalition

8 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. Malay Treasurer, Freedom from Debt Coalition

9 Sources: Bangko Sentral ng Pilipinas on Gross Borrowings, and Department of Budget and Management for Debt Service Record Breaker Rebecca L. Malay Treasurer, Freedom from Debt Coalition

10 Who suffers? Rebecca L. Malay Treasurer, Freedom from Debt Coalition

11 Average national spending for education by administration show that based on 2000 prices, the amount spent per pupil fell during Arroyo’s time Marcos ( ) : Php Aquino ( ): Php Ramos ( ): Php Estrada ( ): Php Arroyo ( ): Php * former Budget Secretary Benjamin Diokno, “Real State of the Nation”, 20 July 2007 Education Spending*

12 Health Spending* Combined (NG and LGU) per capita health spending show that Marcos ( ) spent Php 240 Aquino ( ) Php 278 Ramos ( ) Php 321 Estrada ( ) Php 360 Arroyo ( ) Php 303 * former Budget Secretary Benjamin Diokno, “Real State of the Nation”, 20 July 2007

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14 Each Filipino owes Php 47,039 to local and foreign creditors -As of April 2010

15 Dec. 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

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18 The 2011 Budget at a Glance

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