Thu, 02 Feb 2023

Philippines' debt rises by 0.92 pct at end-October

Xinhua
07 Dec 2022, 20:18 GMT+10

MANILA, Dec. 7 (Xinhua) -- The Philippines' debt reached 13.64 trillion pesos (roughly 245.7 billion U.S. dollars) at the end of October, 0.92 percent higher than the debt incurred at end-September, the Philippine Bureau of Treasury said on Wednesday.

The bureau attributed the 123.92 billion pesos (roughly 2.2 billion dollars) increase in debt portfolio in October to the availment of both local and external loans.

According to the bureau, the national government debt has increased 16.31 percent since end-December 2021.

Of the total debt stock, the bureau said 31.42 percent was sourced externally, while 68.58 percent were domestic borrowings.

The bureau said the country's external debt increased by 20.45 percent in October from the end-December 2021 level.

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