The Philippines’ debt grew to P14.51 trillion in November - making it 0.19% higher than the P14.35 trillion record in October 2023.

According to the statement issued by the Bureau of the Treasury, the said increase was primarily due to the issuance of domestic securities, in which 30.91% of the total borrowings were sourced externally while 69.09% were from local sources.

Due to the net issuance of government securities, the Philippines’ domestic debt became 1.3% higher, standing at P10.02 trillion, compared to the figure recorded in October, which was P9.79 trillion.

Meanwhile, a decrease of 2.06%, which is equivalent to P4.48 trillion, happened in the country’s foreign debt, which is lower than October’s P4.56 trillion, due to the net repayment of foreign loans and favorable exchange movements.