Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Phi debt piles up to P15.02 T in April
The Philippine Star
|May 31, 2024
The country’s outstanding debt crossed the P15-trillion level anew in April mainly due to higher borrowings and the depreciation of the peso against the dollar.
Latest data from the Bureau of the Treasury showed the national debt stood at P15.02 trillion in end-April, inching up by 0.6 percent from P14.93 trillion the previous month.
On a yearly basis, however, the debt stock picked up by 7.9 percent from P13.91 trillion.
For April alone, the government added P91.5 billion in fresh obligations due to the net issuance of government securities and the local currency depreciation versus the dollar.
Security Bank chief economist Robert Dan Roces also attributed the increase in outstanding debt to the depreciation of the peso, which inflates the value of dollardenominated debt.
The peso breached the 57 to $1 level on April 16, the first time in nearly two years. It continued to weaken against the greenback, piercing the 58 to $1 level this May.
This story is from the May 31, 2024 edition of The Philippine Star.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Philippine Star
The Philippine Star
Preloved book industry flipping through market volatilities
Alex Grace has been saving up for a foreign book she saw at a local bargain book store in Manila in March.
4 mins
October 28, 2025
The Philippine Star
TWO LIVES, RARE ILLNESSES, AND THE SHARED COURAGE TO KEEP GOING
There are moments in life when we look at someone we admire and think: “They’re invincible.”
4 mins
October 28, 2025
The Philippine Star
Flood control? DENR flags Laguna de Bay reclamation
Flood control project or reclamation activity?
2 mins
October 28, 2025
The Philippine Star
Senate Blue Ribbon panel to cast wider net
Lacson sees broader corruption scandal
5 mins
October 28, 2025
The Philippine Star
2 US Navy aircraft crash in SCS
Two US Navy aircraft crashed into the South China Sea in separate incidents on Sunday, officials said, with no fatalities reported.
1 mins
October 28, 2025
The Philippine Star
9 more senators to release SALNs
Nine senators are set to disclose their net worth today, in accordance with the move of the Office of the Ombudsman to restore public access to government officials' statement of assets, liabilities and net worth (SALN).
2 mins
October 28, 2025
The Philippine Star
'Private spending, soft infra to sustain growth momentum'
The recent slowdown in the government's infrastructure spending is unlikely to drag down the country's gross domestic product target, as catch-up measures including post-election spending and soft infrastructure are expected to sustain momentum, the Department of Budget and Management (DBM) said.
1 mins
October 28, 2025
The Philippine Star
Ex-DPWH usec eyed vs budget insertion proponents
Former public works undersecretary Roberto Bernardo is being eyed as a witness against the proponents in Congress of the budget insertions for anomalous flood control projects, Assistant Ombudsman Mico Clavano confirmed yesterday.
3 mins
October 28, 2025
The Philippine Star
Peso sinks to 10-month low at 58.9 to $1
The peso weakened against the dollar for the eighth straight trading day yesterday, sinking to its lowest level in 10 months due to the renewed strength of the greenback, weaker local market sentiment and expectations of further monetary easing by the Bangko Sentral ng Pilipinas (BSP).
2 mins
October 28, 2025
The Philippine Star
Phl economy to grow 5.6% in 2025 - Fitch
Global debt watcher Fitch Ratings expects the Philippine economy to expand by 5.6 percent in 2025, driven by infrastructure spending, services exports and remittance-fueled private consumption.
2 mins
October 28, 2025
Listen
Translate
Change font size