Philippine debt rises to P13.75 trillion in February


Posted at Mar 30 2023 10:55 AM

MANILA - The Philippine national government's total outstanding debt reached P13.75 trillion as of the end of February, higher by 0.4 percent compared to the previous month, the Bureau of Treasury said on Thursday.

Out of the total debt stock, 31.3 percent was sourced externally while 68.7 percent were domestic borrowings, the BTr said. 

Domestic debt amounted to P9.44 trillion, higher by 0.6 percent in January, data showed. Meanwhile, foreign debt reached P4.31 trillion or 0.1 percent lower than the previous month, records showed.

The slight decline in external debt was due to the net repayment of foreign loans and the impact of third-currency adjustments against the US dollar which outweighed the effect of local currency depreciation, the BTr said. 

The government earlier said its debt-to-GDP ratio improved to 60.9 percent in the third quarter of 2022.


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