Gov't settles 81% of debt service as of Q3

The Marcos administration increased its debt payments to P1.6 trillion as of end-September, settling more than 80 percent of its programmed obligation for the year.

- LOUISE MAUREEN SIMEON

Data from the Bureau of the Treasury showed that the government raised its debt payments by 17 percent to P1.64 trillion in the nine-month period from the P1.4 trillion in the same period last year.

This means that as of the end of the third quarter, the government has settled 80.9 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 period, 65 percent of the debt service was for amortization or the settlement of the principal amount at P1.06 trillion.