HIGHER INTEREST and amortization payments drove the National Government’s (NG) debt service bill up by nearly 30% in July, data from the Bureau of the Treasury showed.
The latest Treasury data showed payments for the government’s debt obligations rose by 29.56% to P139.99 billion in July from P108.06 billion in the same month a year earlier.
Month on month, debt service surged by 81.29% from P77.22 billion in June, driven largely by higher interest payments.
Debt service covers the NG’s interest and principal payments on domestic and foreign debt.
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