The Philippine government’s outstanding debt surged to a new record high in March as the country accumulated P104.142 billion worth of additional obligations during the month, resulting in total debt of P13.856 trillion, data released by the Bureau of the Treasury showed.
Broken down, P9.513 trillion came from domestic debt, including P156 million from direct loans, and P9.513 trillion from debt securities.
The government reported P4.343 trillion worth of external debts, based on the foreign exchange rate of P54.318:$1. The external obligations include P1.947 trillion coming from loans, and P2.396 trillion coming from debt securities. The same data from the BTr showed that there were P384.118 billion worth of guaranteed debt as of March, covering P202.083 billion domestic, and P182.035 billion external.this year, and have an annual increase of P512.7 billion until it reaches P6.6 trillion in 2028 due to additional tax reforms.
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