The national government paid off over P1 trillion in debts in October, the highest in 35 years, according to data from the Bureau of Treasury. 

Gov’t pays off over P1-T debt in October

The Balance of Payments deficit in July widened to $1.8 billion from a surplus position of $642 million for the same period last year. This is because of national government's withdrawal from the Bangko Sentral to pay for debts and various expenditures.

BOP deficit in July hits $1.8 B

The country’s debts rose to P12.09 trillion as of end February, 70 percent of which were sourced from local lenders. Economists say the debt stock could even be more in March after the US dollar denominated bond issuances that month.

NG debts hit record P12.09 trillion by end-February

The government’s debt in April rose to P12.76 trillion, up from end March’s P12.68 trillion due to the net issuance of government (debt instruments) securities to both local and external lenders and the depreciation of the peso against the US dollar. By end 2022, this would rise to P13.42 trillion.

Austerity measures needed to tame rising NG debts

The country’s obligations rose to a record P12.79 trillion as of end June, breaching the record in April of P12.76 trillion. The bulk of such debts were sourced locally and the balance from abroad.

Phl. debt stock up to record P12.79 Tr.

Finance Secretary Benjamin Diokno clarified that the country’s debt burden is only 1/10th and not 1/3rd of next year’s proposed budget of P5.268 trillion.

Debt burden is 1/10th not 1/3rd of 2023 budget

The country's debt is still at prudent levels compared to other countries in the Asean.  The debt service ratio increased to 7.2 percent  in 2021 from 6.7 percent the previous year because of higher amortization, the Bangko Sentral ng Pilipinas explained.

BSP says Phl. debt ratios still at prudent levels

Gov’t pays off over P1-T debt in October photo Philippine Star

Austerity measures needed to tame rising NG debts photo BusinessWorld

BSP says Phl. debt ratios still at prudent levels photo BusinessWorld

NG debts hit record P12.09 trillion by end-February photo Business World

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