The national government’s outstanding debt as of end-May has breached the P11 trillion level, data released by the Bureau of the Treasury (BTr) showed.
The national government’s total outstanding debt stood at P11.07 trillion as of end-May, 24.5 percent up from the year ago level of P8.89 trillion as the government tapped various sources of funding over the past year for its coronavirus disease 2019 response.
The national government’s total debt stock also slightly increased by 0.7 percent from its end-April 2021 level of P10.99 trillion, with the strong peso tempering further increases, the BTr said.
Of the total debt stock, 28.5 percent was sourced externally while 71.5 percent are domestic borrowings.
The national government’s domestic debt stock amounted to P7.92 trillion, which is 31.2 percent up from the year ago level of P6.03 trillion.
It also rose by 1.3 percent compared to the end-April 2021 level of P7.81 trillion, as a result of the net issuance of government securities, the BTr said.
Meanwhile, the national government’s external debt of P3.16 trillion is 10.5 percent higher than the year ago level of P2.86 trillion, but 0.7 percent lower from the previous month’s P3.18 trillion.
“The lower external debt figure was due to the P28.58 billion impact of local-currency appreciation against the US dollar and the net repayment of foreign loans amounting to P0.22 billion,” the BTr said.
“These more than offset the P5.24 billion revaluation in the peso value of debt denominated in other currencies such as euro and yen,” it added.
