Philippines' total debt slightly declines to P12.50 trillion in May

ABS-CBN News

Posted at Jul 01 2022 11:04 AM

MANILA - The Philippine national government's total outstanding debt settled at P12.50 trillion as of the end of May, which is 2.1 percent lower compared to the previous month, the Bureau of Treasury said Friday.

The decrease was due to the repayment of provisional advances from the central bank, the BTr said in a statement.

Out of the total debt stock, 30.7 percent was sourced externally while 69.3 percent were domestic borrowings, it said.

Domestic debt for the month is at P8.67 trillion, which is 3 percent lower compared to the April level, data showed.

External debt was at P3.83 trillion, 0.1 percent higher than the previous month.

"The increment in external debt was attributed to the impact of local and foreign currency fluctuations against the USD," the BTr said.

The peso has been depreciating the past week, closing to as low as P55.06 to the dollar on Wednesday before slightly recovering on Thursday.

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