The national government’s outstanding debt-to-gross domestic product (GDP) ratio slightly eased to 62.1 percent as of June 2022, according to data posted by the Bureau of the Treasury (BTr) on its website.
The BTr data showed the ratio of debt-to-GDP as of June was lower versus the end-March level of 63.5 percent.
The national government’s total outstanding debt reached P12.79 trillion at the end of the first half of
2022.
The debt portfolio climbed by 2.4 percent in June from the previous month’s level, which the BTr said was due to the net issuances of domestic and external loans as well as currency adjustments.
Of the total debt stock, 31.5 percent was sourced externally while 68.5 percent were domestic borrowings.
The national government’s domestic debt amounted to P8.77 trillion, which is 1.2 percent higher compared to the end-May 2022 level.
“For the month, the increase in domestic debt was due to the net issuance of P96.30 billion in government securities and the P5.36 billion impact of local currency depreciation against the US dollar,” the BTr said.
Meanwhile, the national government’s external debt amounted to P4.02 trillion, which is 5.1 percent higher month-over-month.
“For June 2022, the increment in external debt was attributed to the impact of local currency depreciation against the dollar amounting to P186.94 billion and the net availment of external financing amounting to P43.18 billion; offsetting the P35.72 billion effect of net depreciation against the US dollar on third-currency denominated obligations,” it added.
The government estimates to bring down the debt-to-GDP ratio to 61.8 percent by year end. – ANGELA CELIS
