Gov’t outstanding debt rises to P18.55T in May

MANILA, Philippines – The government’s outstanding debt rose to P18.55 trillion in May after taking on more loans from domestic sources to meet its funding needs, according to the Bureau of the Treasury (BTr).

Latest data from the BTr showed the end-May level was 0.41 percent higher than the P18.47 trillion logged in April.

READ: Weaker peso bloats government debt

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“The increase was primarily driven by the net inflow of domestic securities as the government continued to raise funds to support funding needs, despite the ongoing Middle Eastern conflict,” the BTr said in a statement on Thursday.

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“Meanwhile, the appreciation of the peso against the US dollar and other foreign currencies helped temper the increase,” it added.

READ: Peso returns to 60 level as US, Iran announce tentative peace deal

Domestic debt rose 0.65 percent to P12.5 trillion, while foreign loans dropped 0.07 percent to P6.05 trillion. /pai INQ

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