Philippines’ total outstanding debt surges to 15.69t pesos in July ’24

Philippines’ total outstanding debt surged to 15.69 trillion pesos ($276.84 billion) at the end of July 2024, according to a report released by the Philippines’ Bureau of Treasury on Tuesday.

The debt portfolio increased by 1.3 per cent from the end-June 2024 level, primarily driven by the net issuance of both domestic and external debt. The total debt stock is comprised of 68.54 per cent domestic debt and 31.46 per cent external debt.

The debt portfolio consists of 68.54 per cent domestic debt and 31.46 per cent external debt. In July, domestic debt level stood at 10.75 trillion pesos, up 1.7 per cent from the previous month. The increase was mainly driven by a net issuance of government securities, partially offset by a downward revaluation effect of peso appreciation on US dollar-denominated domestic securities.

Attribution: Philippines’ Bureau of Treasury report

Subediting: Y.Yasser