ASEAN KEY DESTINATIONS
PHL gov’t debt up 4.5% at P6.2T in February
The national government’s outstanding debt stood at a record-high P6.208 trillion in February, up 4.5 percent from P5.940 trillion a year earlier, the Bureau of the Treasury (BTr) reported on Wednesday.
Data released by BTr showed the national government debt rose by 1.5 percent from P6.115 trillion in January.
Sixty-four percent or P3.985 trillion were accounted for by domestic creditors, while 36 percent or P2.223 trillion was from foreign borrowings.
Domestic debt climbed by 3.5 percent year-on-year from P3.850 trillion, “primarily due to the net issuance of government securities amounting to P31.68 billion and the effect of peso depreciation on the value of onshore dollar bonds amounting to P250 million,” the BTr said.
Foreign debt rose by 6.3 percent from P2.090 trillion a year earlier.
“For the month, the peso depreciation against the US dollar increased the peso value of external debt by P21.64 billion alongside net availments worth P39.31 billion,” the bureau said.
“These more than offset the impact of third-currency depreciation against the US dollar amounting to P220 million,” it added.
The national government’s outstanding guaranteed obligations rose by 14.8 percent to P521.8 from P454.5 billion.
“The increment on national government guarantees was due to the effect of currency fluctuations and net availment on external guarantees amounting to P3.48 billion and P210 million, respectively. These far outpaced the net repayment on domestic guarantees amounting to P970 million,” the BTr said. — Ted Cordero/VDS, GMA News
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