Philippine government debt grew to P6.208 trillion as of February

March 29, 2017

Philippine government debt grew to P6.208 trillion as of February up by 1.5 percent from end-January, the Bureau of the Treasury said on Wednesday.

Of the total, 36 percent or P2.223 trillion came from external creditors while 64 percent, or P3.985 trillion were sourced locally.

Domestic debt rose 0.8 percent from the previous month due to the government issuing securities of P31.68 billion and the weaker peso on the value of onshore dollar bonds of PO0.25 billion, the bureau said in a statement.

Foreign debt rose 2.8 percent from end-January. The bureau said “peso depreciation against the US dollar raised the peso value of external debt by P21.64 billion alongside net availments worth P39.31 billion.”

The peso depreciated from P49.757 as of end-january 2017 to P50.255 as of end-February 2017. DMS