The outstanding debt of the national government registered a record P13.752 trillion in February this year.
Data from the Bureau of the Treasury showed Thursday the government debt stock rising 13.7 percent, or P1.659 trillion, from P12.093 trillion in February last year.
The February debt level also inched up 0.4 percent from P13.698 trillion in January.
Of the total, 68.7 percent were domestic borrowings while 31.3 percent was sourced from external sources of funds.
Domestic debt amounted to P9.44 trillion, 0.6 percent higher compared to end-January 2023 level of P9.384 trillion. Year-on-year, it increased from P8.314 trillion.
According to the Treasury, the slight increase was due to the net availment of domestic financing of P55.88 billion and the P1.34 billion impact of local currency depreciation against the US dollar on onshore foreign denominated securities.
From end-December 2022 level, domestic debt has increased by 2.5 percent.
Meanwhile, the government’s external debt decreased marginally by 0.1 percent to P4.31 trillion from P4.313 the previous month due to the P21.15 billion net repayment of foreign loans and P32.32 billion
impact of third-currency adjustments against the US dollar.
These outweighed the effect of local currency depreciation against the US dollar, which amounted to P50.51 billion.
Compared to the end of December 2022, the country’s external debt has increased by P100.12 billion or 2.4 percent.
Year-on-year, foreign obligations at end-February 2023 jumped from P3.68 trillion.
On the other hand, Total national government guaranteed obligations decreased by 1.7 percent month-on-month to P387.19 billion as of the end of February 2023.
The Treasury said the reduction was due to the net repayment of both domestic and external guarantees amounting to P2.56 billion and P3.21 billion, respectively.
The effect of weakened peso against the US dollar on third-currency denominated guarantees further trimmed total debt by P3.09 billion, which more than offset the net depreciation effect of the peso equal to P2.22 billion.
Since the end of December 2022, government guaranteed debt decreased by 3 percent or P11.86 billion.
