Weak peso fuels gov't debt to P17.56 T

The country’s outstanding debt exceeded this year’s full-year projection by more than P200 billion following the peso’s record-low performance against the dollar.

- By MARCO LUIS BEECH

Based on the latest data from the Bureau of the Treasury, the national government’s outstanding debt inched up by less than one percent to P17.562 trillion by end-October from P17.455 trillion as of end-September.

The foreign exchange rate used is 58.771 per dollar, higher than the rate used in September, which was 58.149.

While the current total debt is only 1.2 percent above the debt expectation, it is equivalent to P210 billion, pushing the figure above the full-year assumption of P17.35 trillion.

The October figure is behind the highest debt level recorded since July, when the Treasury reported a P17.563 trillion total debt.