PH gov’t debt tops P19T as borrowing accelerates
MANILA, Philippines — The Philippine government’s outstanding debt surpassed the P19-trillion mark in June, showing its continued reliance on borrowing to finance the budget deficit.
Data released by the Bureau of the Treasury on Thursday showed national debt rose 2.8 percent from the previous month to a record P19.07 trillion, bringing the year-on-year increase to 10.4 percent.
READ: PH debt hits new peak at P18.55T
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Outstanding debt has expanded by nearly P1.4 trillion, or 7.7 percent, since the start of the year.
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READ: Gov’t debt payments up 12% in April
The Treasury said the increase reflected the government’s ongoing fiscal program and financing strategy, while noting that the debt portfolio remained resilient. /pai IINQ
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