THE national government's outstanding debt hit a new record high of P14.48 trillion as of end-October, the Bureau of the Treasury reported on Tuesday. Compared to the end of last year, outstanding debt was P1.062 trillion higher in October. From October 2022, when outstanding debt was higher than the December count, the total increased by a lower P839.8 billion. External debt — 31.62 percent of total outstanding debt as of end-October — totaled P4.58 trillion, 0.97 percent or P44.15 billion higher than the previous month. "Tax and fiscal reform measures would help narrow the country's budget deficit and also curb the increment in the outstanding national debt, going forward."
