Former Defense Secretary and senatorial candidate Gilbert (GIBO) Teodoro said the next Congress will play a crucial role in helping the next administration to manage its public debt with the P12 Trillion national borrowings.

Gibo Teodoro, a former Tarlac congressman and 1989 Bar top notcher, said legislators have to carefully discuss the next administration’s programs and spending during the budget deliberations.

“The most crucial legislation for me is the General Appropriations Act (GAA) because the government’s projects will only move when you pass the national budget. (But) this time, it is more complex because we have a national debt of P12 trillion,” Gibo Teodoro said. “How are we going to fund our programs? Are we going to raise our revenue generation or borrow more? It is a complex situation but you will have to make hard choices.”

Gibo Teodoro, who has vast experience in both public and private sectors in various industries, said that the government needs a whole-of-government approach in addressing the public debt obligations.

“That is why it is crucial that the legislative body is aligned with the executive so we can craft legislation supporting the next administration’s position on funding the government’s future programs,” Gibo Teodoro said.