MANILA, Oct. 31 (Xinhua) -- The national government's total outstanding debt decreased to 17.46 trillion pesos (roughly 297 billion U.S. dollars) as of September, according to the Philippines' Bureau of Treasury.
"The continued decrease reflects the government's sound fiscal discipline, strategic borrowing strategy, and proactive liability management, supported by steady market conditions and robust domestic investor confidence," the bureau said in a statement released on Thursday.
Domestic borrowings remain the majority, at 68.6 percent of total debt, consistent with the government's policy of reducing foreign exchange risk while deepening domestic capital market development, the statement said.
The national government's external debt slightly inched up by 1.9 percent to 5.48 trillion pesos (about 93 billion dollars) as of end-September, mainly due to the weaker peso.
The national government's guaranteed obligations remained broadly stable at 346.63 billion pesos (about 5.89 billion dollars), increasing only slightly by 0.05 percent from the previous month.
"This was attributed to upward revaluation of guarantees due to peso depreciation, partially offset in combined net repayments, and downward adjustment from third-currency movements," the bureau added. ■