Outstanding national government debt jumped P666 billion or 10.2 percent over a 12-month period to P7.17 trillion as of October, data from the Treasury show.
The amount was larger than P6.5 trillion recorded in October 2017. Month-on-month, government debt rose P7.3 billion or 0.1 percent from P7.16 trillion in September.
The Bureau of Treasury said in a statement about 35.54 percent of the total debt stock were sourced externally while 64.46 percent were borrowed domestically.
Domestic debt amounted to P4.620 trillion, P32.45 billion or 0.71 percent higher compared to the end-September 2018 level.
“For the month, the registered increase in domestic debt was due to the net issuance of government securities amounting to P32.74 billion. This was slightly offset by the appreciation of the peso that decreased the value of onshore dollar bonds by P0.29 billion,” the Treasury said.
Data showed that on a year-on-year basis, domestic debt climbed P404 billion or 9.6 percent from P4.22 trillion in October 2017.
Foreign debt amounted to P2.546 trillion in October, down P25.15 billion or 0.98 percent from the end-September 2018 level of P2.572 trillion in September.
“The decline in external debt level was principally due to the P27.34-billion impact of the stronger peso and net repayment on foreign obligations amounting to P0.33 billion. This was tempered by the net appreciation of third-currency denominated external debt amounting to P2.52 billion,” it said.
Foreign debt increased P262 billion over a 12-month period from P2.285 trillion in October 2017.
Total guaranteed obligations of the national government increased P3.41 billion or 0.71 percent month-on-month to P484.71 billion in October.
The increment in NG guarantees was due to the net appreciation of third-currency denominated guarantees amounting to P0.54 billion and net availments on both domestic and external guarantees amounting to P6.00 billion and P0.01 billion, respectively.
This was partially offset by the effect of local currency appreciation equivalent to P3.48 billion.