The national government’s total outstanding debt stood at P13.64 trillion as of end-October, the Bureau of the Treasury (BTr) reported yesterday.
The national government’s total debt portfolio reflects a 0.92 percent increase from the end-September 2022 level largely due to the net availment of both local and external loans, the BTr said.
The debt stock has also increased by 16.31 percent since end-December 2021, and 13.95 percent year-on-year.
The national government’s domestic debt amounted to P9.36 trillion, which is 0.59 percent higher compared to the end-September 2022 level.
“For October, the increment to domestic debt was primarily due to the net issuance of government securities amounting to P55.83 billion while local currency appreciation against the US dollar trimmed P1.25 billion,” the BTr said.
The national government’s domestic debt comprises 68.58 percent of the total debt stock and has increased 14.5 percent since the beginning of the year due to continued preference for domestic financing to mitigate foreign currency risk, the BTr said.
Meanwhile, the national government’s external debt amounted to P4.28 trillion, 1.64 percent higher from the end-September level which the BTr said was due to the P118.71 billion net availment of foreign financing.
This was partly offset by the favorable net impact of both local- and third-currency fluctuations against the US dollar amounting to P43.07 billion and P6.3 billion, respectively.
Year-to-date, the external debt has increased by 20.45 percent, which the BTr said was primarily due to local- and third-currency fluctuations that increase the peso value of foreign denominated obligations. – Angela Celis
