The government’s debt climbed to a record P14.15 trillion as of end-June 2023 from P14.10 trillion in May on continued borrowing to finance the budget deficit, latest data from the Bureau of the Treasury show.
“The NG’s [national government’s] debt portfolio increased by P51.31 billion, or 0.4 percent, compared to the previous month, primarily due to the net issuance of domestic securities,” the Treasury said in a statement Tuesday.
It said of the total debt stock, 31.4 percent was sourced externally, while 68.6 percent represented domestic borrowings.
The government’s domestic debt amounted to P9.70 trillion, P114.32 billion or 1.2 percent higher than the end-May 2023 level.
“For the month, domestic debt growth amounted to P114.32 billion due to the net issuance of government bonds driven by the NG’s financing requirements. Year-to-date, domestic debt has an increment of P494.44 billion or 5.4 percent,” it said.