Outstanding debt of the government increased to a record P11.64 trillion as of end-August from P11.61 trillion in July the Bureau of the Treasury said Thursday.
“For August, the national government’s total debt increased by P32.05 billion or 0.28 percent due to domestic debt issuance as part of government financing,” the Treasury said in a statement.
It said of the total debt stock, 29.4 percent was sourced externally while 70.6 percent represented domestic borrowings.
Domestic debt amounted to P8.22 trillion, up by P100.70 billion or 1.2 percent from the end-July 2021 level as a result of the net issuance of government securities. Domestic obligations climbed by P1.53 trillion or 22.79 percent from the beginning of the year.
External debt hit P3.42 trillion, down by P68.65 billion or 2.0 percent from the previous month. “The lower figure was due to the net repayment of foreign loans amounting to P34.22 billion,” the Treasury said.