Business News

PHL debt declines by 1.67% to P14.93 trillion in March

MANILA – The national government’s total outstanding debt decreased by 1.67 percent to P14.93 trillion as of end-March this year due to the net redemption of domestic government securities.

In a statement, the Bureau of the Treasury (BTr) said of the total debt stock, 68.86 percent is domestic debt while 31.14 percent is external debt.

Domestic debt, which amounted to P10.28 trillion, declined by 2.83 percent from the end-February level.

“The decline resulted from the P299.45 billion net redemption of government securities offsetting the P0.24 billion effect of peso depreciation on foreign currency domestic debt,” the BTr said.

It said the peso depreciated against the US dollar from P56.174 as of end-February 2024 to P56.260 as of end-March 2024.

External debt, meanwhile, reached P4.65 trillion, up by 1 percent from the end-February level.

The BTr said the increase resulted from the net availment of foreign loans amounting to P44.01 billion, as well as local currency depreciation, which added to the valuation of US dollar-denominated debt by P7.05 billion

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