The outstanding debt of the national government as of end-January 2020 rose 0.4 percent or P32.06 billion to P7.763 trillion from the end-December 2019 level due mainly to net availment of foreign financing, the Bureau of the Treasury said Monday.
The Treasury said in a statement 34 percent of the total debt stock was secured externally while 66 percent was domestic debt.
Domestic debt amounted to P5.123 trillion, P3.83 billion or 0.1 percent lower compared to the end-December 2019 level.
“For January, the reduction in domestic debt was mainly due to the net redemption of government securities amounting to P3.86 billion which more than offset the P0.03 billion effect of peso depreciation on onshore dollar bonds,” the Treasury said.
The external debt of P2.639 trillion, meanwhile, was P35.89 billion or 1.4 percent higher from the previous month.
“The increase in external debt was caused by the net availment of foreign loans amounting to P33.51 billion and the P2.72-billion effect of local currency depreciation on dollar-denominated debt. On the other hand, third-currency revaluation trimmed P0.34 billion,” Treasury said.