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National gov’t debt skyrockets to P14.35 trillion, BTr reports
National gov’t debt skyrockets to P14.35 trillion, BTr reports
National gov’t debt skyrockets to P14.35 trillion, BTr reports
by Daylight Abas02 October 2023
DZRH file photo

The Bureau of Treasury (BTr) reported that the country’s debt had skyrocketed to P14.35 trillion at the end of August, adding a P105.28 billion increase from July as the peso weakened from P54.834 to P56.651 against the US dollar.

In a press release issued by BTr, the domestic debt at the end of August of this year settled at 0.2% lower compared to the previous month, caused by large retail bond maturities.

“New domestic debt issued during the month totaled P229.29 billion, with debt redemption of P253.43 billion, resulting in a net repayment of P24.14 billion,” it read.

The BTr added that the record was partially offset by the P2.90 billion increase in value due to the peso depreciation on foreign currency-denominated securities.

“Peso depreciation against the US dollar caused a P146.85 billion upward revaluation of US dollar-denominated debt in August, although partially offset by the P22.11 billion downward revaluation of the third currency debt component,” the BTr further explained.

“Net availment of foreign loans also added P1.78 billion to the reference month’s external debt stock. NG external debt has increased by P347.98 billion, or 8.3%, from the end-December 2022 level,” it continued.

According to the BTr, the increased assured depth is due to the net availment of domestic guarantees totaling P2.44 billion, as well as the P4.03 billion revaluation effect of peso depreciation on external guarantees, which exceeded the P3.29 billion in repayments.

Courtesy: Bureau of Treasury

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