The country’s total outstanding debt increased in July due to net issuance of government securities during the month, the Bureau of Treasury said on Tuesday, September 3.
Data from the Treasury Bureau showed that the country’s debt portfolio reached P15.69 trillion in July, up by P206.49 billion or 1.3 percent from P15.5 billion June 2024 level.
Year-on-year, the country’s debt also increased by 10.1 percent or P1.4 trillion from last year at P14.24 trillion.
Of the total debt stock, 68.54 percent is domestic debt while 31.46 percent is foreign debt.
The domestic debt level for July stood at P10.75 trillion, P180.03 billion or 1.7 percent higher than the previous month at P10.57 trillion.
It is also higher by P940.78 billion higher or 9.6 percent from July 2023’s figure of P9.81 trillion.
Relative to the end-December 2023 level, domestic debt has also increased by P735.22 billion or 7.3 percent.
“The rise in domestic debt was mainly due to the P180.52 billion net issuance of government securities, although partially tempered by the P0.49 billion downward revaluation effect of peso appreciation on US dollar-denominated domestic securities,” the BTr said in a statement.
Foreign debt
Meanwhile, the country’s external debt reached P4.94 trillion in July, up by P26.45 billion or 0.5 percent higher than P4.91 trillion last June.
The foreign debt is also 11.4 percent or P504.91 billion higher than the same month year at P4.43 trillion.
Since the beginning of the year, external debt has increased by P338.50 billion or 7.4 percent from its end-December 2023 level.
“The rise in external debt can be attributed to the net availments of project loans of P5.25 billion and third-currency upward revaluation of P35.44 billion, albeit partially attenuated by the P14.23 billion impact of peso appreciation against the US dollar,” the BTr said. (TCSP)
