Govt debt balloons to new P7.167-T highhome/Business/Govt debt balloons to new P7.167-T highTHE national government’s outstanding debt rose to new record high in October due to higher domestic borrowings, the Bureau of the Treasury reported on Monday. Domestic borrowings totalling P4.620 trillion — up 0.71 percent from the previous month — accounted for the bulk of outstanding debt, while external debt fell 0.98 percent to P2.546 trillion. Outstanding debt a year earlier stood at P6.501 trillion, with domestic and foreign obligations at P4.216 trillion and P2.285 trillion, respectively. “For the month, the registered increase in domestic debt was due to the net issuance of government securities amounting to P32.74 billion,” the Treasury noted. This was said to have been tempered by the net appreciation of third-currency denominated external debt amounting to P2.52 billion.

Source: Manila Times December 03, 2018 16:41 UTC