Philippines: The national government’s indebtedness reached an unprecedented P13.7 trillion at the close of January.

The National Government’s (NG) total outstanding debt amounted to a record of P13.7 trillion as of end-January.
From end-December 2022, NG’s total outstanding debt increased by P279.63 billion or 2.1 percent due to the net availability of domestic and external debt, the Bureau of Treasury said.
Of the total debt stock, 31.5 percent was sourced externally while 68.5 percent were domestic borrowings.
National government domestic debt amounted to P9.38 trillion, P176.55 billion or 1.9 percent higher compared to the end-December 2022 level primarily due to net availability of domestic financing amounting to P179.16 billion.
National government’s external debt amounted to P4.31 trillion, P103.08 billion or 2.4 percent higher from the previous month. DMS