Can the Phil govt pay back its P15 trillion debt?

Looking forward to the future of business

The video said there is nothing to worry about.  Its a lot of mumbo jumbo.  

The total debt is divided into:   P10 trillion local debt and P5 trillion foreign debt.  This is riskier.

because of limited FX and very low interest rate at 0.01 %.    And is therefore affordable

And also look at FX reserve of Philippines.  which stands at  $100 billion or P5.8 trillion.   

But its worrisome too.   At say  3% for foreign, and 6.5% domestic debt, debt service would be 

         P5 trillion   x 3%     =  P150 billion

         P10 trillion x 6.5%  =  P650 billion

         Total                              800 billion

How much of the BIR collection      How much did BIR  collect in 2023 - P2.5 trillion

Debt service would roughly be 30% of local revenues.    That is a lot.   

And our govt managers are borrowing like crazy to finance welfare and other non productive enterprises.   We should be aware