The debt of the Philippine government increased to ₱14.15 trillion or 0.4% at the end of the month of June, according to the Bureau of the Treasury (BTr).
This is considered the highest in the country’s history.
Compared to the recorded ₱14.10 trillion at the end of the month of May, it increased by ₱51.31 billion.
According to BTr, the majority of the total debt or equal to 68.6% is an internal debt worth ₱9.7 trillion, while the rest or ₱4.45 trillion (31.4%) is from the country’s external debt.
Although PH’s external debt decreased slightly to 1.4% or equivalent to ₱63 billion due to the effect of currency adjustments which in turn affected the dollar and third-currency equivalents.
On the other hand, the country’s internal debt increased to 1.2% or equivalent to ₱114.3 billion following the government’s issuance of additional government bonds for the government’s financing requirements.