NG debt rises to P17.56T at end-Oct.

THE NATIONAL GOVERNMENT'S (NG) outstanding debt inched up to P17.562 trillion at the end of October due to a weaker peso.

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Data from the Bureau of the Treasury (BTr) showed outstanding debt rose by 0.61% to P17.562 trillion in October from P17.46 trillion at end-September.

This was 1.2% higher than the P17.36-trillion projected debt level by end-2025.

Year on year, NG debt jumped by 9.62% from P16.02 trillion as of October 2024, the BTr said.

The end-October level was also a tad lower than the record-high P17.563 trillion in outstanding debt seen as of July.

"The expansion was driven by net issuances of domestic and external liabilities, as well as due to the upward revaluation effects of the weaker peso against the US dollar," the BTr said.

The peso depreciated to P58.771 per dollar at the end of October from P58.149 at endSeptember, it said.

NG debt is the total amount owed by the Philippine government to creditors such as international financial institutions, development partner-countries, banks, global bondholders and other investors.