PH debt now P7.76 trillion

The national government’s debt increased to P7.76 trillion last January partly because of a weaker peso.

The latest Bureau of the Treasury data released on Monday (March 2) showed that the government’s end-January debt inched up 0.4 percent from P7.73 trillion in December 2019 and rose by a faster 3.6 percent from P7.49 trillion in 2019.

Domestic debt, which accounted for two-thirds of total, declined 0.1 percent month-on-month to P5.12 trillion.

Government redeemed securities worth P3.86 billion which offset the P30 million effect of peso depreciation, according to the Treasury.

The peso fell to 50.855 against the US dollar in January from 50.802:$1 last December.

Compared to 2019, local debt mostly from the sale of treasury bills and bonds increased 4.4 percent from P4.91 trillion.

External debt rose 1.4 percent month-on-month to P2.64 trillion due to two things—the government borrowed new loans worth P33.51 billion and the P2.72 billion effect of peso fall.

Foreign debt also grew 2.1 percent from P2.58 trillion in January 2019.

The national government’s outstanding guaranteed debt declined 0.1 percent month-on-month but rose 0.2 percent year-on-year to P488.3 billion.

Edited by TSB