Govt debt surged to over P9.1T in July

The government’s outstanding debt reached another record high at end-July as it accelerated domestic and external borrowings to fight the coronavirus disease 2019 (Covid-19) pandemic and help the country cope with its impact, according to the Bureau of the Treasury (BTr).

Data from the Treasury bureau showed on Thursday that actual state obligations of P9.16 trillion in the first seven months of 2020 were a 1.2-percent or P110.08-billion increase from P9.05 trillion in the first half.