The government’s outstanding debt rose 1.9 percent to P5.89 trillion at the end of the end of March this year from 5.78 trillion year-on-year, Treasury data show Friday.
The debt was almost unchanged month-on-month from P5.94 trillion at the end of February this year.
Domestic debt at the end of March 2016 slightly declined on year to P3.841 trillion and was P8.88 billion lower than P3.85 trillion recorded in end-February.
Domestic debt accounted for almost 65 percent of the total outstanding government debt as of end March.
Foreign debt climbed 6.5 percent to P2.057 trillion in end-March from P1.932 trillion on year. It was P32.81 billion lower than the end-February 2016 level.
Meanwhile, national guaranteed debt in March rose 6.5 percent to P442.84 billion from P415.707 billion a year ago.
The government plans to borrow less this year and slash the debt stock to a record low of 41.8 percent of the economy from 44.8 percent in 2015.
The debt stock was at a high of 68.5 percent of the economy a decade ago before falling to below 50 percent since 2013.