The national government’s total outstanding debt has reached P15.48 trillion as of the end of June, data released by the Bureau of the Treasury (BTr) showed.
According to the BTr, the government’s debt portfolio rose by 0.9 percent from the end-May 2024 level due to the net issuance of both domestic and external debt and the effect of peso depreciation.
This was partially offset by the impact of third-currency depreciation on the valuation of corresponding debt denominated in those currencies, the BTr said.
Year-on-year, the outstanding debt went up by 9.4 percent.
Of the total debt stock, 31.71 percent is external debt while 68.29 percent is domestic debt.
The end-June domestic debt level of P10.57 trillion is 1.2 percent higher than the end-May 2024 level, with the increase primarily driven by the P129.89 billion net issuance of government securities and the P0.39 billion effect of peso depreciation on foreign-currency-denominated domestic debt.
Domestic debt year-on-year grew by nine percent.
Meanwhile, the national government’s external debt of P4.91 trillion was 0.1 percent higher than the end-May 2024 level.
“The increment is attributed to P7.95 billion in net availment and the P11.23 billion upward revaluation of US dollar-denominated debt due to peso depreciation,” the BTr said.
“This was partially offset by the P13.56 billion effect of favorable third-currency adjustments,” it added.
Foreign debt posted a year-on-year increase of 10.5 percent.
Meanwhile, the BTr yesterday fully awarded the reissued 20-year treasury bonds during its regular auction.
With a remaining term of three years and one month, the reissued securities fetched an average rate of 6.009 percent, which is lower than the prevailing secondary market three-year benchmark.
The auction was 2.1 times oversubscribed with total tenders reaching P62.6 billion.
With its decision, the BTr raised the full program of P30 billion, bringing the total outstanding volume for the series to P91.1 billion.
