The Philippine government's outstanding debt has reached a new record-high of Php 13.64 trillion by the end of November 2022.

In the data released by the Bureau of Treasury (BTr) on Tuesday, Jan. 3, the end-November outstanding debt slightly increased by 0.02 percent, or Php 3.15 billion from Php 13.641 recorded in end-October 2022.

The BTr attributed the billion increase in the national debt to the “effect of local currency appreciation against the US dollar on foreign currency loans.”

Of the total debt stock, 69.10 percent are domestic debt while 30.90 percent are borrowed from foreign lenders.

As per domestic debts, the government has Php 9.43 trillion debt by end-November, a Php 72.73 billion or 0.78 percent higher than the figure in October 2022.

The year-to-date increment of domestic debt amounted to Php 1.26 trillion from its end-December 2021 level, BTr said.

The external debt, on the other hand, was pegged at Php 4.22 trillion. This figure was Php 69.58 billion or 1.62 percent lower than the debt recorded in the previous month.

As compared to December 2021, the Treasury said the November 2022 external debt increased by Php 658.07 billion or 18.49 percent.