The Philippines ended 2022 with an outstanding debt of P13.418 trillion, 14.4 percent over the P11.728 trillion recorded in end-2021, latest Bureau of the Treasury (BTr) data showed. Know more:
THE Philippines ended 2022 with an outstanding debt of P13.418 trillion, 14.4 percent over the P11.728 trillion recorded in end-2021, latest Bureau of the Treasury data showed.
“For December, the [national government’s] total outstanding debt decreased by P225.31 billion or 1.7 percent from the end-November 2022 level, primarily due to the effect of local currency appreciation and the net redemption of domestic government securities,” the Treasury said in a statement on Thursday.
“This reflects the consistent drive to bolster debt sustainability through prudent cash and debt management backed by resurgent economic growth,” the Treasury said. The NG’s domestic debt at the end of last year amounted to P9.21 trillion, 2.3 percent lower compared to end-November 2022’s value of P9.427 trillion due to the net redemption of government securities amounting to P217.95 billion.
Meanwhile, the NG’s external debt in end-December 2022 fell slightly to P4.21 trillion from P4.216 trillion in November 2022 because of the impact of currency adjustments on foreign currency debt valuation.
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