The total outstanding debt of the national government has reached P13.75 trillion as of the end of February 2023, according to the Bureau of the Treasury (BTr).
The debt level increased by 0.4 percent primarily due to the net issuance of domestic securities during the month.
Year-on-year, the debt level went up by 13.7 percent.
Of the total debt stock, 31.3 percent was sourced externally while 68.7 percent comprised domestic borrowings.
The national government’s domestic debt reached P9.44 trillion, which was 0.6 percent higher than the end-January 2023 level, largely due to the net availment of domestic financing amounting to P55.88 billion and the P1.34 billion effect of local currency depreciation against the US dollar on onshore foreign denominated securities.
From the year-ago level, the local debt went up by 12.2 percent.
On the other hand, the external debt amounted to P4.31 trillion, which was 0.1 percent lower than the previous month due to the P21.15 billion net repayment of foreign loans and P32.32 billion impact of third-currency adjustments against the US dollar.
These outweighed the effect of local currency depreciation against the US dollar, which amounted to P50.51 billion.
Year-on-year, the country’s external debt rose by 17.1 percent.