The National Government’s outstanding debt reached P15.69 trillion as at end-July 2024, up by P206.49 billion or 1.3 percent from June due to net issuances of domestic and foreign debt.
The total debt portfolio at the end of July comprises nearly 69 percent domestic debt and around 31 percent external debt.
Domestic debt in July rose 1.7 percent from June to P180.03 billion or 1.7 percent from June 2024. The increase was primarily due to a P180.52 billion net issuance of government securities, although partially offset by a P490 million reduction resulting from the effect on dollar-denominated domestic debt of the peso’s appreciation against the US dollar.
Compared to the end of December 2023, domestic debt has risen by P735.22 billion or 7.3 percent.
External debt amounted to P4.94 trillion, an increase of P26.45 billion or 0.5 percent from the end of June. This was driven by net availments of project loans amounting to P5.25 billion and a P35.44 billion upward revaluation due to third-currency fluctuations. The increase was partially tempered by a P14.23 billion reduction due to the peso’s appreciation against the US dollar. Since the start of the year, external debt has increased by P338.50 billion or 7.4 percent from the end-2023 level.
National Government-guaranteed obligations rose to P344.79 billion by the end of July, an increase of P1.14 billion from the end of June. This rise was mainly due to a P3.57 billion effect from third-currency adjustments, which outweighed the P1.96 billion reduction from domestic and external net repayments and a P0.47 billion decrease due to peso appreciation. Compared to the end of December 2023, guaranteed obligations have decreased by P4.65 billion.
The peso appreciated slightly against the US dollar to P58.488 in July from P58.658 in June.
