Debt servicing by the national government in full year 2015 accelerated from a year earlier on the back of higher payments of domestic obligations, data from the Bureau of the Treasury showed on Monday.
Debt payments amounted to P534.140 billion, up by 3.71 percent compared to the P515.007 billion recorded a year earlier.
Amortization expenses rose by 15.97 percent in 2015 to P224.776 billion from P193.822 billion in 2014.
Domestic payments increased by 49.56 percent to P154.729 billion from P103.455.
Foreign amortizations, at P70.047 billion, were 22.48 percent lower from 90.367 billion in 2014.
Government interest payments declined by 3.68 percent to P309.364 billion from P321.185 in 2014.
Of the amount, domestic lenders received P215.589 billion while P93.775 billion went to service foreign debts.
In December alone, debt payments fell by 19.73 percent to P28.296 billion from P35.252 billion a year earlier.