BUSINESS
Advocates Philippines
National Debt Down To P14.27 Trillion In September
File Photo
The Philippine Government's total outstanding debt as of the end of September 2023 has been recorded at P14.27 trillion, reflecting a decline of P80.9 billion or 0.6% from the previous month's level.
This reduction was primarily attributed to net repayments of both domestic and external obligations during the month.
Of the total debt stock, 31.8% originates from external sources, while 68.2% comes from domestic borrowings.
The domestic debt, amounting to P9.73 trillion, experienced a decrease of P56.8 billion or 0.6% compared to the previous month due to the net redemption of government securities.
Despite local currency depreciation against the US dollar, the impact on debt stock valuation was minimal, totaling only P0.01 billion.
Year-to-date, domestic debt has increased by P526.0 billion or 5.7%.
The external debt of P4.53 trillion decreased by P24.1 billion or 0.5% from the previous month, primarily due to favorable third currency fluctuations and net repayment of foreign loans.
The outstanding external debt for September was reduced by P8.0 billion due to net repayment of foreign loans and P16.9 billion from the depreciation of third currencies against the US dollar. Peso depreciation against the US dollar added P0.7 billion.
Total guaranteed obligations decreased by P4.4 billion or 1.2% month-over-month to P362.22 billion as of end-September 2023. This decline was attributed to net repayments of both domestic and external guarantees amounting to P1.6 billion and P1.4 billion, respectively.
Additionally, the value of third currency-denominated guarantees decreased by P1.3 billion due to currency adjustments, offsetting the P0.03 billion additional debt caused by peso depreciation against the US dollar.
Year-to-date, the country's guaranteed obligations have decreased by P36.8 billion or 9.2% from its end-December 2022 level.
This reduction was primarily attributed to net repayments of both domestic and external obligations during the month.
Of the total debt stock, 31.8% originates from external sources, while 68.2% comes from domestic borrowings.
The domestic debt, amounting to P9.73 trillion, experienced a decrease of P56.8 billion or 0.6% compared to the previous month due to the net redemption of government securities.
Despite local currency depreciation against the US dollar, the impact on debt stock valuation was minimal, totaling only P0.01 billion.
Year-to-date, domestic debt has increased by P526.0 billion or 5.7%.
The external debt of P4.53 trillion decreased by P24.1 billion or 0.5% from the previous month, primarily due to favorable third currency fluctuations and net repayment of foreign loans.
The outstanding external debt for September was reduced by P8.0 billion due to net repayment of foreign loans and P16.9 billion from the depreciation of third currencies against the US dollar. Peso depreciation against the US dollar added P0.7 billion.
Total guaranteed obligations decreased by P4.4 billion or 1.2% month-over-month to P362.22 billion as of end-September 2023. This decline was attributed to net repayments of both domestic and external guarantees amounting to P1.6 billion and P1.4 billion, respectively.
Additionally, the value of third currency-denominated guarantees decreased by P1.3 billion due to currency adjustments, offsetting the P0.03 billion additional debt caused by peso depreciation against the US dollar.
Year-to-date, the country's guaranteed obligations have decreased by P36.8 billion or 9.2% from its end-December 2022 level.
Oct 31, 2023
