CAIRO – The Philippine national government’s total outstanding debt decreased by 0.9 percent to PHP15.55 trillion at the end of August, indicating a modest relief in the country’s fiscal pressures.
According to Philippines News Agency, the latest data from the Bureau of the Treasury (BTr) highlight a composition in the debt stock, where 69.40 percent constitutes domestic securities and 30.60 percent external obligations. The BTr attributed the overall decline in debt to a combination of peso appreciation and net repayments of external debt.
Domestically, debt levels saw a slight increase from PHP10.75 trillion in July to PHP10.79 trillion in August, driven by the issuance of PHP45.05 billion in government securities. In contrast, external debt experienced a more significant reduction, falling by 3.6 percent to PHP4.76 trillion. This decline was primarily influenced by the appreciation of the peso, which accounted for a reduction of PHP194.90 billion, supplemented by net repayments amounting to PHP4.17 billion.
This development comes as the Philippine government continues to navigate economic stabilization amid global financial uncertainties.