MANILA -The Philippine national government’s debt stock increased by 0.8 percent or an additional P104.1 billion to reach yet another record high, at P13.86 trillion as of the end of March, according to the Bureau of the Treasury.
In March, local debt rose by 0.8 percent or P71 billion to P9.51 trillion mainly because the government’s new borrowings were more than the payments made that month.
Similarly, foreign debt increased by 0.8 percent or P33.1 billion to P4.34 trillion.
These increases outweighed the benefit of the Philippine peso’s appreciation against the US dollar, which trimmed a total of P71.5 billion off the debt stock.
READ MORE:
Philippines’ debt stock rose to new high of P13.7T in January
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