Metro Manila (CNN Philippines, March 7) — The Philippines’ outstanding debt swelled to ₱13.7 trillion in January, a ₱279.63-billion increase from December 2022, data from the Bureau of the Treasury showed Tuesday.
The 2.1% increase from end-2022’s debt pile was due to “the net availment of domestic and external debt,” the bureau said in a statement.
The majority of the outstanding obligations were still raised from local sources.
Domestic debt climbed by 1.9% to ₱9.38 trillion.
Loans from foreign sources, on the other hand, also jumped by 2.4% to ₱4.31 trillion. The strengthening of the local unit also reduced the peso value of foreign currency-dominated debt by ₱93.84 billion.
Meanwhile, the government’s guaranteed obligations declined by 1.3% to ₱393.84 billion.
