The national government’s total outstanding debt as of end-November 2023 amounted to P14.51 trillion, the Bureau of the Treasury (BTr) reported yesterday.
The national government’s debt stock increased by 0.19 percent month-over-month, which the BTr said was primarily due to the net issuance of domestic securities.
It also saw an increase of 6.34 percent year-on-year and 8.12 percent from the start of 2023.
Of the total debt stock, 30.91 percent are from external sources while 69.09 percent are from domestic borrowings.
For national government domestic debt, the end-November 2023 level of P10.02 trillion is 1.23 percent higher compared with the prior month due to the net issuance of government securities.
New domestic debt issued during the month totaled P171.09 billion, the BTr said, while principal redemption amounted to P45.14 billion, underlying a net issuance of P125.95 billion.
“The increase was partially offset by the P3.87 billion effect of peso appreciation on foreign currency-denominated domestic securities,” the BTr said.
Year-to-date, domestic debt registered an increase of 8.86 percent, while it saw an annual growth of 6.33 percent.
Meanwhile, the national government’s external debt of P4.48 trillion is 2.06 percent lower than the previous month.
“For November, the lower level of external debt was due to the net repayment of foreign loans amounting to P1.08 billion and favorable foreign exchange movements, wherein the P109.37 billion reduction attributed to peso appreciation against the US dollar far exceeded the upward adjustment linked to third-currency appreciation of P16.30 billion,” the BTr said.
The national government’s external debt has increased by 6.5 percent from end-December 2022, while it went up 6.36 percent versus its year ago level.
