The national government’s total outstanding debt has amounted to P13.86 trillion as of end-March, the Bureau of the Treasury (BTr) reported yesterday.
In a statement, the BTr said the government’s debt stock rose 0.8 percent from the previous month’s P13.75 trillion, primarily due to the net issuance of domestic and external debt.
It also recorded a 9.3 percent increase from the P12.68 trillion posted in the same period last year.
Of the total debt stock, 68.7 percent was sourced domestically while 31.3 percent were external borrowings.
The national government’s domestic debt rose to P9.51 trillion, 0.8 percent higher compared to the end-February 2023 level of P9.44 trillion.
“In March, the P72.87 billion net issuance of domestic securities outweighed the P1.87 billion effect of local currency appreciation against the US dollar on onshore foreign currency denominated securities,” the BTr said.
From the end-March 2022 level of P8.87 trillion, the national government’s domestic debt has increased by 7.3 percent.
External debt amounted to P4.34 trillion, also 0.8 percent higher from the previous month’s P4.31 trillion.
“The increment in (the) national government’s external obligation for the month was attributed to the P84.26 billion net availment of foreign loans and P18.53 billion impact of third-currency adjustments against the US dollar,” the BTr said.
“These more than offset the P69.64 billion effect of local currency appreciation against the US dollar,” it added.
The country’s outstanding foreign debt recorded a double-digit hike of 14 percent from the end-March 2022 level of P3.81 trillion.
The BTr also reported yesterday that results were mixed in its treasury bills auction, as it decided to fully award bids for the 364-day IOUs while partially awarding the 91-day and 182-day securities.
The 364-day paper fetched an average rate of 6.211 percent while the 91-day and 182-day securities were capped at 5.891 percent and 6.109 percent, respectively.
“Partial award for 91-day and 182-day to align with secondary levels,” Rosalia de Leon, national treasurer, said.
The auction was three times oversubscribed, attracting P45.4 billion in total tenders.
With its decision, the BTr raised P11.1 billion of the P15 billion total offering. – Angela Celis
