The National Government’s (NG) outstanding debt has now reached P15.89 trillion as of September 2024, according to the Bureau of Treasury (BTr).
Photo: Unsplash
Data released by the BTr on October 30 revealed a 2.2% increase from August 2024’s outstanding debt, which was previously at P15.5 trillion. This increase was due to both domestic and foreign borrowings.
Meanwhile, domestic debt stood at P10.94 trillion as of September 2024, a 1.3% increase from the previous month.
Photo: Bureau of Treasury (BTr)
However, the BTr maintained that the latest debt increase remains “manageable,” with the NG prioritizing a “strategic focus” on local fund-raising.
“Nevertheless, the NG’s strategic focus on local fund-raising allows the government to limit external risk exposure to only 31.19% of its debt portfolio, while enabling the development of the local bond market and providing Filipinos with quality investment vehicles to grow their savings,” stated the press release shared by the BTr.
“Overall, the Philippine government’s prudent debt management, supported by a heavy bias toward local funding, contributes to the country’s strong fiscal position and continued resilience amidst global uncertainties,” the release continued.
According to Finance Secretary Ralph Recto during the Senate’s deliberation on the P6.352 trillion national budget for 2025, the accumulated debt under Marcos Jr.’s administration has already reached P15.5 trillion.
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