Bong Bong Marcos borrowed โฑ9.7 trillion in just 4 Years, the highest in 40 Years among 7 Presidents after EDSA Revolution
It's official, the IBON Foundation recently noted that Bong Bong Marcos (BBM) is now the Philippine President that borrowed the most among the seven Presidents after the first EDSA Revolution in 1986, or the Philippine President that borrowed the most in the last four Decades.
This despite being only four Years into office and still has two more Years to go. BBM had already borrowed โฑ9.7 trillion, which is more than the โฑ9.4 trillion borrowed by former President Rodrigo Duterte.
Note though that during Duterte's last Years in office, from 2020 to 2022 was under the Corona Virus Disease 2019 (Covid-19) Pandemic which necessitated such borrowings. The IBON Foundation also noted that despite such borrowing by the current Administration, much of it were lost due to Corruption.
The Bilyonaryo News Channel said that around โฑ200 billion per Year is lost due to corruption in the Bureau of Customs (BOC) while another โฑ500 billion per Year is lost due to the same in the Bureau of Internal Revenue (BIR).
Ultimately the Department of Finance itself admitted that up to a total of โฑ1.4 trillion per Year is lost due to Corruption.
SOURCE: Philippines' Marcos borrows โฑ9.7 trillion in 4 Years, highest in 40 Years: Ibon Foundation {Archived Link}












