MANILA - Philippine debt stood at P7.802 trillion in March, 13.4 percent higher than the P6.879 trillion posted in the same month last year, the Bureau of the Treasury (BTr) said Tuesday.
The debt level in March was also P350 billion higher compared to February and was up almost P510 billion from December 2019.
Foreign borrowings made up 33.4 percent of the total debt stock with the rest coming from domestic borrowings.
The BTr said domestic debt increased as the government borrowed more and the peso weakened against other currencies.
The government has said that it would raise borrowings to finance this year's spending program, including President Rodrigo Duterte's ambitious infrastructure push.