The national government (NG) ended January 2024 with a total outstanding debt of P14.79 trillion, a 1.19-percent increase from the previous month, data from the Bureau of the Treasury showed Friday.
It said that of the total debt stock, 31.29 percent represented external debt and 68.71 percent was domestic debt.
Domestic debt rose P144 billion, or 1.44 percent, to P10.16 trillion as of end-January following the net issuance of government securities.
Gross issuance of domestic debt reached P211.11 billion, while principal payments totaled P69.67 billion, resulting in a net issuance of P141.44 billion.
Meanwhile, the valuation effect of local currency depreciation against the US dollar on foreign currency-denominated domestic debt added P2.81 billion to the January total.
External debt reached P4.63 trillion, up by P29.66 billion or 0.65 percent from the end- December 2023 level.
“The increase was attributed to the P81.73-billion upward revaluation caused by local currency depreciation against the USD,” the BTr said.
This was partially offset by favorable movements in third currencies (P28.52 billion), reducing the net increase by P52.07 billion. External loan availment contributed P61.86 billion for the month.
This was comprised of P5.36 billion ($0.10 billion) in project loan disbursements and P56.50 billion ($1.00 billion) from program loans, which included loans from ADB ($400 million) and the World Bank ($600 million).
Meanwhile, total repayment of external loans amounted to P85.41 billion ($1.51 billion), resulting in total net repayment of P23.55 billion for January 2024.
Guaranteed obligations decreased by P0.78 billion, or 0.22 percent, from nd- December 2023 level to P348.66 billion as of end-January 2024.
