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Friday, March 29, 2024

Gov’t debt reached P11.97t in October

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Outstanding debt of the national government hit a record high of P11.97 trillion in October from P11.92 trillion in September, driven mainly by the issuance of domestic securities, the Bureau of the Treasury said Wednesday.

“For the month, the national government’s total debt slightly increased by P54.48 billion or 0.46 percent primarily due to the net issuance of domestic securities,” the Treasury said.

It said that of the total debt stock, 29.3 percent was sourced externally while 70.7 percent represented domestic borrowings.

Domestic debt amounted to P8.47 trillion, up by P80.65 billion or 0.96 percent from the end-September 2021 level as a result of the net issuance of government securities. Since the start of 2021, domestic debt increased by P1.77 trillion or 26.49 percent.

External debt hit P3.50 trillion, P26.17 billion or 0.74 percent lower from the previous month.

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