Philippines NG debt falls 0.9% in August ’24

Philippines National Government’s (NG) total outstanding debt fell to P15.55 trillion at the end of August 2024, down by 0.9 per cent from July 2024, according to Bureau of the Treasury (BTr) latest data on Tuesday.

This was primarily due to the revaluation effect of peso appreciation and the net repayment of external debt.

The domestic securities make up 69.40 per cent of the overall debt, while external obligations account for 30.60 per cent.

In August, the domestic debt increased by 0.4 per cent month-on-month to P10.79 trillion, driven by net issuance of government securities.

Attribution: Bureau of the Treasury statement

Subediting: Y.Yasser