The national government debt stood at P5.46 trillion as of end-July 2013, rising 5.9 percent from the recorded figure a year ago, the Bureau of Treasury (BTr) said.
June 2013 government debt was P304 billion higher compared to the P5.15 trillion posted last year.
Month-on-month, July government debt was also 0.2 percent, or P9 billion higher from the end-June 2013 level of P5.45 trillion.
Of the total government debt, the BTr noted that P1.96 trillion, or 35.9 percent was from foreign creditors, while P3.50 trillion, or 64.1 percent was sourced from domestic sources.
Meanwhile, the bureau added that because of a net redemption of P2 billion, domestic debt fell by 0.1 percent, or P2 billion from the recorded end-June level. External debt, however, rose by 0.6 percent, or P12 billion over the same period, mainly because of net availments amounting to P11 billion.
“Further adjustments caused by the net appreciation of third currencies against the US dollar were tempered by the appreciation of the local currency for a resulting net increase in peso value of P1 billion,” the BTr stated.
The Treasury bureau also noted that from the start of the year, total government debt has grown by 0.4 percent. More specifically, domestic and external debt has risen by 0.9 percent and 0.4 percent, respectively.
On the other hand, the government guaranteed debt amounted to P492 billion as of July 2013, 0.3 percent, or P1 billion higher month-on-month. Of the total, 29.3 percent, or P144 billion are domestic guaranteed debts; while 70.7 percent, or P348.1 billion are external guaranteed obligations.
“The net appreciation of 3rd currencies caused an increase in the peso value of external guaranteed debt, while domestic guaranteed debt remained unchanged over the previous month’s level,” the bureau said.