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By HANA BORDEY, GMA News Published July 8, 2021 1:30pm Senator Francis Pangilinan has warned that the government’s fiscal space will further tighten as public funds intended for social services will now be diverted to pay the country’s P11 trillion outstanding debt. “The fiscal space will definitely tighten as resources that would otherwise go to services, amelioration programs, and the much needed stimulus package will then be diverted for servicing our debts,” Pangilinan told GMA News Online. His statement came after the Bureau of Treasury announced that the national government’s outstanding debt stood at P11,071,130,000,000 as of end of May 2021.

Quezon cityFrancis pangilinanPanfilo lacsonKarl kendrick chuaBureau of treasuryDuterte administrationNational economicDevelopment authoritySenator francis pangilinanSecretary karl kendrick chuaOne actSenator leila de limaPresident benigno aquinoBuild programGolden ageSenator panfilo lacson