Higher local borrowings cited as PHL end-July debt climbs 10.5% to ₧14.2T

THE Philippines’s outstanding debt, as of end-July, is now at P14.24 trillion, about 10.5 percent higher than the P12.887-trillion obligation level recorded in the same month of last year, according to the Bureau of the Treasury .

Treasury data showed the NG’s latest outstanding obligation is already 97.33 percent of its projected P14.63-trillion debt level for the end of the year. “The increment in the domestic portfolio was attributed to the P110.39 net issuance of government bonds driven by the NG’s financing requirements, offsetting the P0.85 billion effect of local currency appreciation against the US dollar on onshore foreign currency-denominated securities,” it said.Meanwhile, the NG’s external debt was estimated at P4.43 trillion, which was slightly lower than the P4.445 trillion it recorded in June. On an annual basis, it remained higher by 9.

Source: Loan Digest (loandigest.net)

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