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Saturday, May 18, 2024

Government debt climbed to P11.17 trillion as of June

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The outstanding debt of the national government increased by 0.9 percent or P94.91 billion to P11.166 trillion as of end-June from the previous month, mainly because of the issuance of more government securities and the peso depreciation, the Bureau of the Treasury said Thursday.

It said that of the total debt stock, 28.9 percent was sourced externally while 71.1 percent were domestic borrowings.

“Domestic debt amounted to P7.938 trillion, which is P22.80 billion or 0.3 percent higher compared to the end-May 2021 level as a result of the net issuance of government securities,” the Treasury said.

The external debt of P3.227 trillion was P72.11 billion or 2.3 percent higher from the previous month. “The increase in external debt was due to the impact of local-currency depreciation against the US dollar amounting to P64.86 billion and net availment of foreign loans amounting to P25.52 billion,” it said. 

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