The Philippine government’s running debt has reached PHP12.09 trillion at the end of February 2022, latest data from the Bureau of the Treasury (BTr) shows.
The new record-high outstanding debt in February was 0.5% higher than the previous month’s PHP12.03 trillion.
Domestic debt reached PHP8.41 trillion while the external debt recorded PHP3.68 trillion, both were 0.5% higher compared to January.
“The increase in the government’s total debt stock was due to currency fluctuations and net financing from both local and external sources,” the BTr said.
Last month, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said that the soaring 60% debt-to-GDP ratio for 2021 is not a cause for concern.
“I don’t think we should worry about that. I know we have borrowed something like $10 billion because of the pandemic,” Diokno said.
