Gov’t debt soars to all-time high of P13.7t READ MORE:
in December 2022 as the government borrowed more money to finance the budget deficit, the Bureau of the Treasury said Tuesday.
Data showed that of the total debt stock, 31.5 percent came from other countries and 68.5 percent represented domestic borrowings. “The increase in NG’s external obligation for January was brought on by the P186.56 billion net availment of foreign loans and P10.36 billion impact of third-currency adjustments against the US dollar. However, peso appreciation reduced the peso value of foreign currency denominated debt by P93.84 billion,” the Treasury said.
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