National govt debt ries 4.3% in Oct

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THE national government’s outstanding debt rose in October, the Bureau of the Treasury (BTr) reported on Wednesday, with both domestic and foreign obligations picking up.

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Preliminary Treasury data placed government debt at P5.96 trillion, up by 4.3 percent from a year earlier. From September, the figure rose by 0.4 percent.

The local component of total debt stood at P3.9 trillion, a 3.9-percent rise compared to October last year. Measured against September, domestic debt increased by 0.4 percent.

“For the month of October, the majority of increase in domestic obligations was due to net issuance of government securities amounting to P14.98 billion,” the Treasury explained.

Domestic debt was slightly reduced by the appreciation of the local currency against the US dollar, which lowered the peso value of the debt by P20 million.

Year-to-date, the domestic debt portfolio increased by 2 percent or P77.51 billion, the Treasury said.

Foreign debt, meanwhile, increased by 5.2 percent year-on-year and by 0.3 percent month-on-month to P2.06 trillion.

“The increase in external obligations is attributed to net availments worth P13.80 billion; however, this was tempered by the impact of the stronger peso against the dollar- and third currencies-denominated debt that reduced the peso value of debt by P2.19 billion and P4.55 billion, respectively,” the Treasury said.

Since the start of 2015, external debt has increased by 7.6 percent or P144.95 billion.
The country’s foreign borrowings in October were priced at an exchange rate of P46.90 to a dollar.

Debt guaranteed by the national government, meanwhile, fell by 1.3 percent to P440 billion in October from P446 billion a year earlier.

“The decline was due to the combined effect of peso appreciation against the US dollar, net depreciation of third currencies and net repayments,” it said.

Guaranteed debt on a month-on-month comparison increased by 0.9 percent from P445 billion in September.

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