debt 90% of programmed payments settled as of Q3

The Marcos administration jacked up its debt payments to P1.4 trillion as of end-September, settling about 90 percent of its programmed obligation for the year.

- LOUISE MAUREEN SIMEON

Data from the Bureau of the Treasury showed that the government hiked its debt payments by 57 percent in January to September, indicating that as of the end of the third quarter, the government has settled 90.3 percent of its record P1.55trillion total debt service for 2023, divided into an 80:20 mix in favor of domestic creditors.

During the period, 67 percent of the debt service was for amortization or the settlement of the principal amount at P940.19 billion. This is nearly double the P489.87 billion paid in the comparative period in 2022.