Philippine Debt Hits $313 Billion, Driven By Depreciation, State Bond Issuances
Manila: State bond issuances and a weaker peso pushed the Philippine national debt to a massive 19.61 trillion peso ($313 billion) at the end of August, according to the Bureau of the Treasury on Wednesday.
Total national liabilities increased by 1.12 percent, or 217.62 billion pesos, from the previous month, and expanded by 10.72 percent from the end of December last year, said the bureau.
Domestic borrowing accounted for 67.53 percent, reaching 13.24 trillion pesos, pushed up by net issuances of government securities. External obligations made up the remaining 32.47 percent, due to the peso's depreciation.
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