Fake News Na Utang Daw Ni PNoy

Dear KaPAB,

Nagkakalat na naman ng fake news ang mga kulto. Kesyo daw mas malaki daw ang utang ni PNoy.

Eto ha may paliwanag na may resibo. Sana wish ko lang intindihin.

 

“It’s time to straighten the National Debt issue incurred by PNoy again because when the Bangko Sentral announced that the Debt in September 2018 reached P7.29 Trillion, trolls were quick to ascribe to PNoy’s time when Debt reached P6.4 Trillion “daw”.

Above is a table from the Bureau of Treasury where its depicted that:

1. Debt under Marcos ending in 1986 was at $28 Billion inherited by Cory.

2. Debt incurred under Cory was only $4.93 Billion plus $28 B under Marcos so it became $32.93 B.

3. Debt incurred under FVR was only $13.38B plus $ 32.93B inherited from Cory so it became $46.31B.

4. Debt incurred under Erap’s 2 years was only $5.07 Billion plus the $46.31 B from FVR so it became $ 51.38 Billion.

5. Debt incurred under GMA was $22.57 B (the biggest) plus what she inherited from Erap so it became $73.95 Billion under her.

6. The Debt incurred under PNoy was only $3.52 Billion (the smallest) in his 6 years plus what he inherited from Pandak at $73.95 so it became $77.47 Billion.

7. We do not have the Dollar figures of Debt under Duterte but the Peso figure of Debt under PNoy Aquino in Peso was at P5.57 Trillion. If Debt now is at P7.29 Trillion, then Duterte incurred P1.72 Trillion in his first 28 months. Diokno said they will borrow P1.19 Trillion in January to bridge the Budget Deficit in 2018 so expect the Debt under Duterte to balloon to P8.4 Trillion in 2019.

8. You can also use this table to discuss who was the best President in relation to Debt to GDP Growth Ratio. Guess who’s the best performance:

PNoy at 26.5%!

The two foremost reasons why Debt was low under PNoy:

1. PNoy steered the economy well resulting to huge trade and budget surpluses from 2011 to 2015 and these surplus income was used to pay off the interest and principal of the old debts due. The trade surpluses was even used for the AFP Modernization Program without incurring more loans.

2. Second, the big ticket Infra of PNoy costing P2.4 Trillion was financed by the private sector thru the PPP scheme and paid off by the taxes earned by the projects; not by more loans.

So wag mema at wag magpadala ng fake news.

Kalaban Ng Fake News,

PAB

P.S. Thanks to Ding Velasco.

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