National debt up in May amid higher borrowings, weaker peso

ABS-CBN News

Posted at Jul 03 2017 07:51 PM

MANILA - The national government debt rose in May as the government ramped up borrowings and as the peso tumbled against the US dollar. 

Data from the Bureau of the Treasury showed that the national government's outstanding debt stood at P6.345 trillion in May, which was 7.8 percent higher compared with P5.885 trillion in the same month last year.

Domestic debt stood at P4.137 trillion, representing 65 percent of the total, while foreign debt stood at P3.797 trillion.

Domestic debt rose 9.0 percent amid higher issuance of government securities. Foreign obligations rose 5.7 percent as the peso weakened against the dollar this year resulting in a P135.74 billion increase in foreign debt.