The country's outstanding debt hit another record high of ₱14.15 trillion as of June 30, 2023, the latest record from the Bureau of Treasury (BTr) released on Tuesday showed.
The June 2023 debt was ₱51.31 billion or 0.4 percent higher than the record in May 2023 of ₱14.1 trillion.
The BTr attributed the slight increase in the outstanding debt stock to the net issuance of domestic securities.
Of the total debt, the agency said 31.4 percent, or ₱4.45 trillion was external debt, while 68.6 percent, or ₱9.70 trillion was from foreign borrowings.
According to BTr, the external debt was 1.4 percent lower as compared to the previous month.
"The reduction in foreign debt was driven by the impact of currency adjustments affecting both USD- and third-currency equivalents leading to a decrease in the peso value of the debt, amounting to P69.98 billion and P8.28 billion respectively," it explained.
Meanwhile, the domestic debt was ₱114.32 billion or 1.2 percent higher as compared to the end-May 2023 record.
"For the month, domestic debt growth amounted to P114.32 billion due to the net issuance of government bonds driven by the NG’s financing requirements," it stated.
The country's total debt-guaranteed debt has been trimmed down by 2.6 percent to ₱369.73 billion.
The BTr said the decline in guaranteed debt was due to the net repayment of both domestic and external guarantees of ₱4.36 billion and ₱0.89 billion, respectively.
