The government’s outstanding debt soared to a new all-time high of P10.40 trillion at end-February, according to the Bureau of the Treasury (BTr). Treasury data showed on Monday that the amount was up by 0.7 percent from the P10.32 trillion recorded in January. Domestic debt reached P7.36 trillion, up by 0.5 percent from end-January’s P7.32 trillion due primarily to net availment of domestic financing. Government-guaranteed debt declined by 2.1 percent or P9.67 billion to P446.72 billion at end-February. The Budget department has said the government’s outstanding debt could reach P11.98 trillion this year.

Source: Manila Times March 29, 2021 16:28 UTC