P326-B in new revenues needed yearly to cover Covid debt
MANILA - The incoming administration will need around PHP326 billion in new revenues every year to cover both principal and interest payments due to debts incurred during the coronavirus disease (Covid-19) pandemic, a House leader said on Monday. House ways means committee chair Joey Salceda said presumptive President Ferdinand "Bongbong" Marcos Jr. can use his "supermajority in both mandate and congressional alliances" to enact smart, efficient tax and economic policies to address the PHP12-trillion debt overhang. He said annuitizing the debt service due to deficit spendin...