The national government’s outstanding debt stood at P5.683 trillion in July, rising 4.1 percent or P222 billion from a year earlier on the back of increased domestic borrowings, data from the Bureau of Treasury showed on Tuesday.
On a monthly basis, the debt figure grew 0.6 percent or P32 billion from P5.650 trillion recorded in June.
As of July, domestic obligations by the government have expanded by 7.4 percent year-on-year while its external obligations dropped by 1.8 percent.
Domestic debt accounted for P3.757 trillion of the total, growing by 0.7 percent from the end-June level “due to a net issuance,” the bureau said.
External borrowings for the month reached P1.925 trillion, or 0.4 percent higher than the previous month’s level as net availment was tempered by the changes in foreign exchange rates, it said.
The country’s foreign borrowings during the month consisted of US dollar bonds and notes, Japanese yen bonds, euro bonds and peso global bonds—using a foreign exchange rate of P44.40 to a dollar.
On the other hand, total national government-guaranteed debt amounted to P457 billion, down by 7.1 percent or P35 billion year-on-year. Compared with June’s level, the government’s guaranteed debt fell by P5 billion or 1.2 percent.
“This is primarily due to the reduction of external guaranteed obligations—a product of net repayments and currency adjustments. Domestic guaranteed obligations, on the other hand, remain unchanged for the period,” the bureau added.