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Philippine debt in February rises to P13.75 trillion

The Bureau of Treasury has reported that the Philippine national government’s total outstanding debt has reached as high as P13.75 trillion as of the end of February.

This is higher by 0.4 percent compared to what was recorded in January. 

The Bureau of Treasury also reported that out of the total debt stock, 31.3 percent was sourced externally while 68.7 percent were domestic borrowings. 

In the January report, data showed that the domestic debt amounted to P9.44 trillion, higher by 0.6 percent in January.

Meanwhile, foreign debt reached P4.31 trillion or 0.1 percent lower than the previous month, records showed.

According to the bureau, the decline in the foreign debt was due to the net repayment of foreign loans and the impact of third-currency adjustments against the US dollar which outweighed the effect of local currency depreciation.

The government earlier said its debt-to-GDP ratio improved to 60.9 percent in the third quarter of 2022.

Staff Report

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