The national government’s (NG) outstanding debt at the end of October reached P14.48 trillion, up by 1.5 percent or P212.13 billion from end-September due to the net debt issuance, availment of loans, and the peso’s depreciation against the US dollar, the Bureau of the Treasury said.
The October debt number was higher than the end-December 2022 level of P13.42 trillion and the P13.64 trillion recorded in October last year.
The BTr said 68 percent of the government’s outstanding debt are owed to domestic lenders while the balance comes from international sources. The end-October domestic debt of P9.90 trillion is P167.98 billion, up 1.7 percent from September due to the net issuance of government securities. Gross issuance of domestic debt for the month totaled P213.42 billion, while principal payments amounted to P45.68 billion, resulting in a net repayment of P167.75 billion.
Foreign debt rose in October due to net availment of loans amounting to P33.52 billion, and the P11.84 billion upward adjustment in valuation caused by peso depreciation against the US dollar. Favorable movement of third currencies tempered the increase by P1.21 billion. The external debt has increased by P367.99 billion from the end-December 2022 level.
Total debts guaranteed by the government decreased by P1.22 billion to P361.00 billion on account of net repayment of domestic guarantees amounting to P1.35 billion.
