Govt debt up 2.9% at P5.82T in June

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THE outstanding debt of the national government rose to P5.82 trillion in June, up 2.9 percent or P165 billion from a year earlier due to new issues of government securities and the depreciation of the peso, the latest data from the Bureau of the Treasury (BTr) showed.
Compared with May, government debt in June was up 1.1 percent or P63.47 billion.

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The local debt component of the total grew 2.9 percent year-on-year to P3.84 trillion. Compared with May, domestic debt rose 0.5 percent or P20.81 billion.

“The increase came from the net issuance of government securities worth P20.51 billion and the escalation in the peso value of multi-currency notes by P0.30 billion due to local currency depreciation,” the treasury bureau said.

Foreign debt, meanwhile, increased 3 percent year-on-year and 2.2 percent month-on-month to P1.98 trillion in June.

“The enlargement was due to net availments of P13.85 billion and the impact of peso depreciation on 3rd currency- and dollar-denominated debt, which gained [rose]P2.79 billion and P26.02 billion, respectively, in local currency equivalent,” the bureau said.

The country’s foreign borrowings in June consisted of US dollar bonds and notes, yen bonds, euro bonds and peso global bonds, priced at a foreign exchange rate of P45.20 to a dollar, it said.

Debt guaranteed by the national government fell 13.1 percent to P401 billion in June from P462 billion a year earlier. Guaranteed debt on a month-on-month comparison increased 0.7 percent from P399 billion in May.

“The increase was similarly caused by currency fluctuations, which raised the peso value of guarantees by P5.56 billion, although partially offset by net repayments amounting to P2.94 billion,” it added

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