Gov’t debt increased by 10.1% to P15.69t as of end-July 2024

I show You how To Make Huge Profits In A Short Time With Cryptos!

The national government’s outstanding debt climbed by P145 trillion, or 10.1 percent, to reach a record P15.69 trillion ($292 billion) at the end of July 2024 from P14.24 trillion a year earlier.

Data from the National Treasury show the debt portfolio increased by P206.49 billion, or 1.3 percent, from P15.48 trillion at the end of June, mainly due to net issuances of domestic and foreign debt.

It said of the total debt, 68.54 percent was domestic debt and 31.46 percent was foreign debt.

Domestic debt in July was P10.75 trillion, up 1.7 percent from the previous month and 9.6 percent from a year earlier.

The increase was primarily due to net issuances of government securities, partially offset by a downward revaluation effect of the peso’s appreciation against the US dollar on dollar-denominated domestic securities, according to the Treasury.

It said that since the end of December 2023, domestic debt has risen by P735.22 billion or 7.3 percent.

Foreign debt amounted to P4.94 trillion ($92 billion) in July, up 0.5 percent from the end of June and 11.4 percent year-on-year. The increase was attributed to net availments of project loans and a third-currency upward revaluation, partially offset by the impact of the peso’s appreciation against the US dollar.

The Treasury said that since the beginning of the year, foreign debt has increased by P338.50 billion ($6.3 billion) or 7.4 percent.

The government’s guaranteed obligations rose 0.3 percent to P344.79 billion ($6.4 billion) at the end of July.

The increase was primarily due to third-currency adjustments against the US dollar, which outweighed reductions from domestic and foreign net repayments and a downward revaluation from the peso’s appreciation.

Since the end of December, guaranteed obligations have decreased by P4.65 billion or 1.3 percent, the Treasury said.

Be the first to comment

Leave a Reply

Your email address will not be published.


*