Latest data from the Treasury showed that the national debt settled at P16.02 trillion as of end-October, the highest level to date. This is also 10.6 percent higher than last year's P14.48 trillion debt.
For October alone, the government added a total of P126.95 billion to the debt pile due to the valuation impact of the peso's depreciation against the dollar. Based on Treasury data, the peso weakened to 58.198 at end-October from 56.017 at end-September.
As of February, the outstanding debt was already 99.8 percent of the 2024 debt expectation of P16.06 trillion.
The Treasury said domestic borrowings accounted for the bulk or almost 67.98 percent of the debt pile, while the remaining 32.02 percent came from external sources.
This story is from the December 04, 2024 edition of The Philippine Star.
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This story is from the December 04, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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