Outstanding government debt hit P6.08 trillion as of end-September 2016, as the peso fell to its weakest level in seven years in September.
Data from the Treasury showed that outstanding debt rose 2.5 percent from P5.935 trillion in September 2015, as both foreign and local debt increased over the past 12 months.
The Treasury showed on a monthly basis, government debt increased 1.8 percent, or P106 billion, from P5.98 trillion recorded in August this year.
Domestic debt grew 0.5 percent to P3.9 trillion in September from P3.88 trillion recorded in the same period a year ago.
This was also P20.75 billion higher than P3.85 trillion recorded in August.
“The growth in domestic debt portfolio was a combined effect of government securities net issuance amounting to P19.79 billion and upward adjustment in the peso value of onshore dollar securities by P0.96 billion due to peso depreciation,” the Treasury said.
Domestic debt accounted for almost 64.15 percent of total outstanding government debt as of the end-September.
Foreign debt climbed 6.3 percent to P2.18 trillion as end-September from P2.07 trillion in the same month last year. This was also P85.9 billion higher than the end-August 2016 level.