Government debt payments soar 15.46% in September

The national government’s debt payments jumped by 15.46 percent in September, driven by increases in both amortization and interest payments.

According to the Bureau of the Treasury, debt payments rose to P239 billion from the P207 billion paid out a year ago.

Amortization increased by 13.9 percent to P167.55 billion from P147.1 billion in September 2022.

Interest payments also rose by 19.28 percent to P71.45 billion from the P59.9 billion registered in the same period last year.

The year-to-date debt payments of the government likewise surged by 57.37 percent year-on-year.

Cumulative debt payments as of September totaled P1.4 trillion, compared to the P889.85 billion recorded from January to September 2022.”