PH debt went down to P14.27 trillion

SunStar Publishing Inc.

THE Philippines’ debt slightly went down to P14.27 trillion in September, .6 percent or P80.9 billion less than the month prior, the Bureau of Treasury said Wednesday, November 1, 2023.The BTr said the decrease in the country’s outstanding debt was caused by net repayments of both domestic and external obligations in September.It said 31.8 percent of the total debt stock or P4.53 trillion are from foreign sources, while 68.2 percent or P9.73 trillion are domestic borrowings.

5 percent lower than the previous month “due to favorable third currency fluctuations and net repayment of foreign loans.” It is, however, still 7.7 percent or P323.8 billion more than the end-December 2022 level.Of the total decrease in foreign borrowings, P8.0 billion was the net repayment of foreign loans and P16.9 billion from the depreciation of third currencies against the US dollar. Meanwhile, peso depreciation against the US dollar added PO.7 billion.

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