The national government’s total outstanding debt amounted to P15.02 trillion as of end-April 2024, the Bureau of the Treasury (BTr) reported yesterday.
Total debt increased by 0.61 percent from the end-March 2024 level, which the BTr said was due to government net financing and the impact of local currency depreciation on the valuation of foreign currency-denominated debt.
Year-on-year, the outstanding debt rose by 7.95 percent.
Of the total debt stock, 31.36 percent is external debt while 68.64 percent is domestic debt.
The end-April domestic debt level of P10.31 trillion is 0.3 percent higher compared with the end-March 2024 level.
For the month, the BTr said the increase resulted from the P27.23 billion net issuance of government securities and the P3.78 billion effect of peso depreciation on foreign currency-denominated domestic debt.
Local debt posted a year-on-year growth of 8.99 percent.
Meanwhile, the external debt of P4.71 trillion was 1.3 percent higher than the end-March 2024 level.
“Although there was a net repayment of P32.91 billion in foreign loans within the month, the considerable depreciation of the peso caused a P109.31 billion upward adjustment in the local valuation of US dollar-denominated debt, partly offset by the P15.91 billion downward adjustment brought about by the opposite movement of third-currency debt,” the BTr said.
External debt has increased by 5.74 percent on a year-on-year basis.
