Batangas 1st District Rep. Leandro Leviste warned that the Philippines could face a debt crisis worse than the current oil crisis if the government fails to cut wasteful spending.
He said the national debt is projected to exceed ₱19 trillion, or 65% of GDP, the highest in 20 years, while over 20% of taxes already go to interest payments.
Leviste noted that government promises of tax cuts and fuel subsidies are unsustainable without serious budget reforms.
He filed House Resolution No. 911, urging the government to save at least ₱12.9 billion from hosting the 2026 ASEAN Summit and other sources.
Leviste also called on the public to pressure officials to reduce wasteful spending to help avert the looming debt crisis.
Source: PhilNews24 | March 28, 2026
LEVISTE WARNS OF POTENTIAL DEBT CRISIS IF GOVERNMENT FAILS TO CUT WASTEFUL SPENDING
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