Metro Manila (CNN Philippines, October 31) — The country’s outstanding debt slightly dropped in September following net repayments of domestic and foreign loans, according to the Bureau of the Treasury.
Data showed Tuesday that the sovereign debt slid 0.6% or ₱80.9 billion to ₱14.27 trillion as of last month.
The Treasury said the Philippines’ borrowings for the month were still heavily sourced from domestic sources at 68.2%.
Domestic debt fell by ₱56.8 billion to ₱9.73 trillion, as of end-September.
The remaining debt came from external loans, which stood at ₱4.53 trillion, lower by ₱24.1 billion from a month ago.
The government’s guaranteed obligations likewise declined 1.2% to ₱362.22 billion.
While the peso weakened against the US dollar during the month, the Treasury said it had “minimal effect on debt stock valuation…”
