Ben Madilynn
THE total outstanding debt of the National Government has swollen to P15.69 trillion as of July 31, 2024, the Bureau of the Treasury (BoT) said Tuesday, September 3, 2024.
The BoT said the end-July debt is P206.49 billion, or 1.3 percent more than the end-June 2024 level.
It said the increase is primarily driven by the net issuance of both domestic and external debt, which stood at P10.75 trillion and P4.94 trillion, respectively.
The increase of P180.03 billion or 1.7 percent in the domestic debt was mainly due to the P180.52 billion net issuance of government securities.
The domestic debt was also partially tempered by the P0.49 billion decrease revaluation effect of peso to US dollar appreciation, which stood at P1 to $58.488.
The BoT attributed the P26.45 billion or 0.5 percent increase in foreign borrowings to the net availments of project loans of P5.25 billion and third-currency upward revaluation of P35.44 billion.
It is also affected by the P14.23 billion impact of peso appreciation against the US dollar.
“NG guaranteed obligations have increased by P1.14 billion or 0.3 percent from its end-June 2024 level to P344.79 billion as of end-July 2024. The rise in NG guarantees was mainly due to the P3.57 billion effect of third-currency adjustments against the US dollar which outweighed the P1.96 billion reduction from domestic and external net repayments as well as the P0.47 billion downward revaluation brought about by peso appreciation,” the BoT said.
“Since end-December 2023, NG guaranteed obligations have decreased by P4.65 billion or 1.3 percent,” it added. (TPM/SunStar Philippines)
