Gov't settles 91.6% of debt service for 2024

The Marcos administration increased its debt payments to P1.86 trillion as of end-October, settling more than 90 percent of its programmed obligation for the year.

- - Keisha Ta-asan

Data from the Bureau of the Treasury showed the government raised its debt payments by 25.7 percent from the P1.48 trillion in the same period last year.

As of end-October, the government had settled 91.6 percent of its total debt service for 2024, which is at a record P2.03 trillion. This is divided into a 77:23 mix in favor of domestic creditors.

During the 10-month period, 65.6 percent of the debt service was for amortization or the settlement of the principal amount at P1.22 trillion. This is 27.3 percent higher than the P958.96 billion paid in the comparative period.