PHL gov't debt up 2.7% to P7.016T as of end-June 2018

The Treasury Bureau reported on Friday that national government debt rose to P7.016 trillion as of end-June, up 2.7 percent or P183.62 billion from the previous month, due to the issuance of domestic retail bonds and the depreciation of the peso.

Government domestic debt came to P4.589 trillion, 3.5 percent or P154.75 billion higher compared to the previous month. The increase was due to the issuance of P154.32 billion in government securities and the depreciation of the peso, which increased the value of onshore dollar bonds by P430 million.

Meanwhile government external debt came to P2.437 trillion, up 1.2 percent or P28.87 billion compared to the end-May figure. The increase was due to the peso depreciation, which increased the peso value of foreign-exchange debt to P38.95 billion.

However, the BTr explained that the increase was "partially offset by the external loan net repayments amounting to P1.58 billion and the impact of net depreciation on 3rd currency-denominated debt amounting to P8.5 billion." — NB/DVM, GMA News