Government debt rises to P9.9 trillion in May
The country’s government debt ballooned in May following a fresh euro bond issuance.
The Bureau of the Treasury reported the country’s total debt rose 1.7% to P9.92 trillion as of May amid higher borrowings and a weaker peso.
Domestic debts increased by P51 billion to P5.26 trillion due to the additional issuance of government debt papers plus the impact of the weaker peso on locally-issued global bonds.
Foreign debt added P77.7 billion to reach P2.66 trillion. The 3 percent increase was due to the government’s fresh issuance of euro bonds, amounting to 750 million euros.
Guaranteed debt payments slightly went up to P486.16 billion, keeping pace with growing loans.