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Debt eases to P15.55 T
The Philippine Star
|October 02, 2024
The strengthening of the local currency and the repayment of external obligations eased the country's outstanding debt to P15.55 trillion in August, the Bureau of the Treasury said.
Latest data from the Treasury showed that the national debt settled at P15.55 trillion as of endAugust, cooling from the record-high P15.69 trillion a month ago.
Nonetheless, the figure is still 8.4 percent higher than the P14.35 trillion debt in the same month last year.
For August alone, the government slashed the debt level by P139.79 billion.
The Treasury attributed the decline to the revaluation effect of peso appreciation and the net repayment of external debt.
As of end-August, the outstanding debt stood at 96.8 percent of the 2024 debt expectation of a record P16.06 trillion.
This story is from the October 02, 2024 edition of The Philippine Star.
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