Metro Manila (CNN Philippines, July 4) — The national government’s total outstanding debt climbed to ₱14.10 trillion by the end of May this year, the Bureau of the Treasury reported on Tuesday.
The amount was up 1.3% or ₱185.40 billion from the previous month due to the net issuance of domestic and external debt, as well as the peso’s depreciation against the US dollar.
Most of the debt stock or 68% was sourced domestically, while 32% were external borrowings.
Domestic debt rose to ₱9.59 trillion, higher by 1.4% or ₱130.67 billion compared to the end-April level. The hike in domestic debt was due to the net issuance of government securities along with local currency depreciation against the greenback.
Meanwhile, the country’s external debt amounted to ₱4.51 trillion, up 1.2% or ₱54.73 billion from the previous month. The bureau said this was mainly driven by external loans.
