National government debt payments rose in November compared to the same month last year due to higher interest payments. Data from the Bureau of the Treasury showed a total payment of P93.7 billion, driven by P66.65 billion in interest payments.
National government debt payments increased in November compared to the previous year due to higher interest payments, according to data from the Bureau of the Treasury. The total amount paid was P93.7 billion, significantly higher than the P56.68 billion recorded in the same month last year, but lower than October's P216.85 billion.Interest payments were the main driver of the increase, reaching P66.65 billion compared to P48.55 billion in November 2023 and P55.39 billion in October.
Local creditors accounted for almost all interest payments at P48.93 billion, higher than the P35.33 billion seen in October and the year-ago P35.26 billion. Fixed-rate Treasury bonds made up the largest portion at P29.51 billion, followed by retail T-bonds (P16.87 billion) and T-bills (P2.01 billion).Amortization accounted for the remaining P27.05 billion in overall debt payments, declining from October's P161.46 billion but higher than November 2023's P8.13 billion. Year-to-date, government debt payments were 22.1 percent higher at P1.95 trillion compared to the P1.6 trillion in the same period last year.Interest payments by the end of November reached P705.33 billion, up from the P628.33 billion recorded in 2023. Similarly, amortization expenses surged to P1.25 trillion in 2024 from P975.28 billion in 2023. The national government's outstanding debt reached a new record high of P16.09 trillion in November.A total of P70.7 billion was added to the debt total from October's P16.02 trillion, and the amount was also P1.58 trillion higher than the year-earlier P14.51 trillion. Of the total debt stock, 32.13 percent was borrowed abroad, while 67.87 percent was sourced domestically. Domestic debt reached P10.92 trillion as of the end of November, higher than the P10.89 trillion recorded a month earlier and P10.02 trillion in 2023. External debt, meanwhile, totaled P5.17 trillion as of the end of November, P38.88 billion or 0.8 percent higher compared to the month-earlier P5.13 trillion
DEBT PAYMENTS INTEREST RATES GOVERNMENT FINANCE NATIONAL DEBT TREASURY BONDS
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