PHL govt debt climbs to P5 trillion as of end-April 

Outstanding debt of the Philippine government reached P5.075 trillion as of end-April, up P363.32 billion from P4.711 trillion a year earlier, latest data from the Bureau of the Treasury showed.

 

The amount reflects both domestic and foreign debt.

 

Thus, in theory, each of the 94.5 million Filipinos is indebted by P53,989.

 

Debts owed to local lenders reached P3.018 trillion from P2.685 trillion in the same comparable period, while debts owed to foreign lenders rose to P2.056 trillion from P2.026 trillion.

 

Foreign obligations account for 40.52 percent of the debt pie, with domestic debt equivalent to 59.48 of total debt.

 

Compared to the P5.088 trillion recorded as of end-March, however, government’s total debts were down by P13.70 billion, official data also showed.

 

Domestic debt increased month-on-month as government issued more securities than it redeemed during the period.

 

But foreign debt declined month-on-month as the peso strengthened against the dollar and trimmed P28.97 billion from foreign obligations. —VS, GMA News