Outstanding debt of the Philippine government climbed to P5.359 trillion as of end-October, up by P461.03 billion from P4.898 trillion a year earlier, the Bureau of the Treasury reported Tuesday.
While its foreign obligations dropped in the same comparable period, the decline was countered by an 18.97 percent increase in domestic debt.
Obtained mostly through the issuance of Treasury bills and bonds, domestic debt rose by P537.76 billion to P3.373 trillion from P2.835 trillion.
Foreign debt declined by 3.72 percent or P73.73 billion to P1.986 trillion from P2.062 trillion, according to government data.
Philippine foreign obligations consisted of debts owed to foreign creditors, including P1.027 trillion in US dollar bonds, P51.75 billion in Japanese yen bonds, P26.70 billion in Euro bonds, and P98.88 billion in global peso-denominated bonds.
A component of the national government debt consists of guarantees on loans obtained by state agencies and corporations amounting to P528.54 billion as of end-October, down by 8.53 percent or P49.29 billion from P577.83 billion a year earlier.
The debts guaranteed by Manila include P155.37 billion from domestic creditors and P373.18 billion from foreign lenders.
The Aquino administration's fiscal program placed the national government’s debt stock at P5.52 trillion for the whole of 2012 and at P5.91 trillion for 2013. — VS, GMA News
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