MANILA, July 1 (Xinhua) -- The Philippines' debt decreased by 2.1 percent at the end of May due to the repayment of provisional advances from the central bank, the Philippine Bureau of Treasury said on Friday.
The bureau said the national government's total outstanding debt registered at 12.50 trillion pesos (roughly 226.78 billion U.S. dollars) in May. Of the total debt stock, the bureau said 30.7 percent was sourced externally, while 69.3 percent were domestic borrowings.
The bureau added the country's foreign debt increased by 0.1 percent in May, attributing the increment to the impact of local and foreign currency fluctuations against the U.S. dollar.
Philippine President Ferdinand Romualdez Marcos, sworn in on Thursday, said his administration is "drawing up a comprehensive all-inclusive plan for economic transformation."
"The priority is economy," Marcos vowed, assembling his economic team to steer the economy. ■