Outstanding Philippine government debt topped P14 trillion in May READ MORE:
The Philippines’ outstanding debt hit a record P14.10 trillion as of end-May 2023 from P13.91 trillion as of end-April on weaker peso against the US dollar and borrowings incurred by the government to fund its budget deficit, the Bureau of the Treasury said.
It said of the total debt stock, 32 percent was sourced externally, while 68 percent came from domestic borrowings. “For the month, the increment to domestic debt was primarily accounted for by the net issuance of government securities amounting to P129.11 billion. Moreover, the impact of peso depreciation against the US dollar padded the value of onshore foreign currency-denominated securities by P1.56 billion,” it said.External debt amounted to P4.51 trillion, P54.73 billion or 1.2 percent higher from the previous month.
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