Friday, August 12, 2022
HomeUncategorizedPH debts breaches P12-trillion as of January 2022

PH debts breaches P12-trillion as of January 2022

-

MANILA, PHILIPPINES – The data from the Bureau of Treasury (BTr) said, the Philippines’ outstanding debt at the start of 2022 surpassed the P12 trillion mark as of the end of January.

According to figures released on Friday (March 4), the national government’s debt stood at P12.03 trillion ($232.7 billion), an increase of P301.12 billion or 2.6 percent from P11.73 trillion at the end of December 2021.

The latest figures surpassed the historic all-time high of P11.97 trillion set in October 2021, as the government borrowed more pandemic funding from domestic and international lenders.

Domestic lenders accounted for 69.6 percent of total debt stock, amounting to P8.37 trillion, or P197.38 billion, more than the end-December 2021 level.

“This is primarily due to net availment of domestic financing amounting to ₱197.04 billion including the ₱300 billion provisional advances availed by the NG from the BSP for budgetary support,” the Treasury said.

Meanwhile, the government’s external debt totaled P3.66 trillion, or 30.4 percent of total outstanding debt. The most recent figure is 2.9 percent higher than the previous month’s figure.

“For January, the increment in external debt was attributed to the impact of Peso depreciation against the USD amounting to P11.23 billion and the net availment of external obligations amounting to P94.88 billion. These were tempered by valuation adjustments in other foreign currencies amounting to P2.37 billion,” the agency added.

Total guaranteed obligations of the national government fell by P1.40 billion in January, or 0.3 percent month on month, to P422.52 billion, due to the repayment of domestic and external guarantees totaling P2.12 billion and P220 million, respectively.

The Treasury also stated that this offsets the effect of P0.72 billion in Peso depreciation against the USD and P0.22 billion in net appreciation of third-currency denominated guarantees against the US dollar.

The Philippine government had a total outstanding debt of P11.73 trillion at the end of 2021, raising concerns about the government’s ability to pay.

Related articles

Stay Connected

138,422FansLike
8,530FollowersFollow
361,888FollowersFollow
8,971SubscribersSubscribe

Latest posts