NATIONAL GOVERNMENT (NG) debt rose in May as it continued to raise funds to support financing needs, the Bureau of the Treasury (BTr) said.
The latest data from the Treasury showed that outstanding debt stood at P18.55 trillion as of end-May, inching up by 0.41% from the previous month’s level of P18.47 trillion.
“The increase was primarily driven by the net incurrence of domestic securities as the government continued to raise funds to support financing needs, despite the ongoing Middle Eastern conflict,” the BTr said in a statement on Thursday.
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