NATIONAL government debt rose to P6.41 trillion in June as the government issued more securities and the peso continued to trade weaker against the dollar, the Bureau of the Treasury (BTr) said on Wednesday. Domestic borrowings accounted for 65 percent or P4.18 trillion of the total debt, while 35 percent or P2.23 trillion were owed to foreign creditors, it said. Domestic debt grew by 9.3 percent from P3.82 trillion year-on-year, while foreign obligations rose by 5.2 percent from P2.11 trillion. Up from MayMonth-on-month, the national government’s outstanding debt rose by P71.97 billion or 1.13 percent in June from May. “These more than offset the P3.97 billion effect of the weaker peso,” the bureau said.

Source: Manila Times July 26, 2017 17:13 UTC