NG outstanding debt slips to P17.47 trillion at end-August

THE NATIONAL GOVERNMENT'S (NG) outstanding debt slipped to P17.47 trillion at the end of August, but still remained above the full-year projection, data from the Bureau of the Treasury (BTr) showed.

- Aubrey Rose A. Inosante -

The latest data from the Treasury showed outstanding debt dipped by 0.5% in August from the record-high P17.56 trillion at end-July.

Despite the decline, the debt level is still 0.63% higher than the projected year-end level of P17.36 trillion.

Year on year, NG debt jumped by 12.3% from P15.55 trillion at the end of August 2024, the BTr said.

"This (debt reduction) was mainly due to the government's full repayment of its biggest local bond for the year, worth P516.34 billion, and a stronger peso, which reduced the value of the country's external debt," the BTr 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.

In August, the bulk or 69.2% of the debt stock came from domestic sources, while external obligations made up the rest.

"The debt reduction was accompanied by an improvement in the country's debt profile as the share of domestic debt to total borrowings increased to 69.2% from 68.9% in the previous month," the BTr said.