Philippines' debt rises by 0.8 pct in end-March-Xinhua

Philippines' debt rises by 0.8 pct in end-March

Source: Xinhua| 2023-05-08 21:34:15|Editor: huaxia

MANILA, May 8 (Xinhua) -- The Philippines' debt rose to 13.86 trillion pesos (roughly 250.72 billion U.S. dollars) as of end-March, a 0.8 percent increase from total outstanding debt recorded in end-February, the Philippine Bureau of Treasury said on Monday.

Of the total debt stock, 68.7 percent was sourced domestically, while 31.3 percent was external borrowings.

The bureau said the country's external debt amounted to 4.34 trillion pesos (roughly 78.51 billion U.S. dollars), 0.8 percent higher than in February.

The bureau attributed the rise of the national government's external obligation in March to the net availment of foreign loans and currency adjustments against the U.S. dollar.

From the end-December 2022 level, the country's external debt has increased by 3.2 percent, it added.

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