MANILA -- The Philippines' sovereign debt in November 2023 stood at P14.51 trillion, up by P27.92 billion compared to October, the Bureau of Treasury said Wednesday.

This was due to net issuance of domestic securities, Treasury said

• Philippine debt hits P14.48 trillion in October

Domestic borrowings made up 69.09 percent of the total debt stock, while foreign borrowings made up 30.91 percent.

The national government’s domestic debt at the end of November amounted to P10.02 trillion, higher by 1.23 percent than the figures recorded in October. Treasury said this was due to the net issuance of government securities.

Foreign debt, meanwhile, was at P4.48 trillion, lower by P94.15 billion or 2.06 percent than the previous month's numbers.

However, foreign debt has increased by P323.8 billion or 7.7 percent from the end-December 2022 level.

• Philippine debt dips by P81 billion in September to P14.27 trillion
• Philippine debt hits record P14.24 trillion in July

The country's debt has more than doubled in the past 7 years as it sought to finance big-ticket infrastructure projects and fund its pandemic response.

Government economists however have played down concerns over the growth in the country’s debt saying the issue remains manageable.

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