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Philippine outstanding debt slightly up at P13.64 trillion in November

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="New 1000-peso bill. ABS-CBN News. Fernando G. Sepe Jr., ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/01/03/20221214-1000-peso-fsj-9.jpg"/><figcaption>New 1000-peso bill. ABS-CBN News. <em>Fernando G. Sepe Jr., ABS-CBN News</em></figcaption></figure></div><p>MANILA - The national government&#x27;s total outstanding debt reached P13.64 trillion as of the end of November, slightly higher than the previous month, the Bureau of Treasury said on Tuesday.</p><p>The minute 0.02 percent increase from October was due to the impact of the Philippine peso&#x27;s appreciation against the US dollar on foreign currency loans, the BTr said. </p><p>Compared to December 2021, the total national government debt rose by P1.92 trillion or 16.33 percent, it added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/07/22/ph-debt-rises-to-p1364-trillion-in-october">Philippine debt rises to P13.64 trillion in October as govt borrowings increase</a></li></ul><p>Domestic debt in November amounted to P9.43 trillion, which is P72.73 billion or 0/78 percent higher compared to October, data showed.</p><p>Meanwhile, external debt amounted to P4.22 trillion, P69.58 billion or 1.62 percent lower than October&#x27;s level due to the P106.98 billion impact of local currency appreciation and P13.38 billion net repayment. This was tempered by the net impact of third-currency fluctuations against the US dollar at P50.78 billion, data showed.</p><p>External debt comprised 30.90 percent of the total debt portfolio, the BTr said. Compared to December 2021 level, external debt rose 18.49 percent to P658.07 billion, it added.</p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Outstanding national government debt reached P13.64 trillion as of the end of November: BTr ABSCBNNews" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/01/03/ph-debt.jpg"/><figcaption>Outstanding national government debt reached P13.64 trillion as of the end of November: BTr. <em>ABSCBNNews</em></figcaption></figure></div><p>The administration of President Ferdinand &quot;Bongbong&quot; Marcos Jr expects to bring down the current debt-to-GDP ratio of 63.7 percent as of the end of September to 51.1 percent by 2028.</p><p>Prior to the pandemic, a debt-to-GDP ratio of 60 percent is considered high.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/13/22/ph-debt-to-gdp-ratio-balloons-to-635-pct-in-march">Philippines&#x27; debt-to-GDP ratio balloons to 63.5 percent as of end March</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2270631" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The national government's total outstanding debt reached P13.64 trillion as of the end of November, slightly higher than the previous month.