Philippine debt stock’s swelling slowed, hit P13.64T in Nov

The Philippine government’s debt stock again swelled but slower in November 2022, this time by 0.02 percent — an additional P3.15 billion — to a new record high of P13.644 trillion as the peso’s appreciation trimmed down obligations denominated in US dollars, according to the Bureau of the Treasury

“However, national government debt has increased by P1.92 trillion or 16.3 percent since end-December 2021,” the BTr said.

Of the total outstanding obligations, 31 percent or P4.22 trillion was owed to foreign lenders while 69 percent or P9.43 trillion was borrowed from domestic lenders.

“For November, the net issuance of government securities added P75.76 billion while peso appreciation trimmed P3.03 billion from the debt stock,” the bureau said.