By Beatriz Marie D. Cruz, Reporter
THE NATIONAL Government’s (NG) outstanding debt rose to a fresh high of P15.35 trillion as of end-May, reflecting the impact of the peso weakness on foreign currency-denominated debt, the Bureau of the Treasury (BTr) said.
Data from the BTr on Thursday showed that outstanding debt increased by 2.2% from P15.02 trillion as of end-April. Debt jumped by 8.4% from P14.15 trillion a year ago.
“Total debt increased by P330.39 billion or 2.2% from the end-April 2024 level primarily due to the impact of local currency depreciation on the valuation of foreign currency-denominated debt,” the BTr said in a press release.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.