Philippine gov't debt surpasses P11 trillion at end of May

The national government's outstanding debt stood at P11,071,130,000,000 as of end of May 2021, the Bureau of the Treasury has said.

In a statement, the BTr said the government's total debt stock slightly increased by P79.81 billion or 0.73% from its end of April level with the strong peso tempering further increases.

The BTr said 28.5% of the total was sourced externally while 71.5% was borrowed domestically.

The external debt of P3.155 trillion was P23.56 billion or 0.74% lower from the previous month, said the treasury.

"The lower external debt figure was due to the P28.58-billion impactof local -currency appreciation against the US dollar and the net repayment of foreign loans amounting to P0.22 billion," the BTR said.

The national government’s outstanding debt widened to a record-high at the end of April 2021 when it reached P10.991 trillion.

It was 2% higher compared to end-March’s level of P10.774 trillion. —NB, GMA News