New borrowings push debt to record P15.9 T

The country's outstanding debt hit a fresh high of P15.89 trillion as of end-September following the net availment of new external and domestic obligations, according to the Bureau of the Treasury.

- LOUISE MAUREEN SIMEON

The latest figure is also 11.4 percent higher than the P14.27-trillion debt in the same month last year.

For September alone, the government added P343.11 billion in new debts - both from external and domestic obligations.

Despite hitting another record high, the Treasury said the debt remains at a manageable level, with the majority still sourced domestically.

"The government's strategic focus on local fundraising allows it to limit external risk exposure while enabling the development of the local bond market and providing Filipinos with quality investment vehicles to grow their savings," the Treasury said.

"The government's prudent debt management, supported by heavy bias on local funding, contributes to the country's strong fiscal position and continued resilience amid global uncertainties," it said.