Philippines' debt rises to 273 bln USD in September

30/10/2024 19:01

        The Philippines' debt increased to 15.89 trillion pesos (roughly 273 billion U.S. dollars) as of September 2024, 2.2 percent higher than the August level, the Bureau of the Treasury said on Wednesday.
        
        The bureau attributed the uptick in the national government's debt level in September to the net availment of new external and domestic debt.
        
        The bureau said 68.81 percent of the total debt stock was sourced domestically, while the rest was sourced externally.
        
        The bureau said the country's external debt amounted to 4.96 trillion pesos (85 billion dollars) in September, 4.2 percent higher than a month earlier.
        
        "Favorable foreign exchange adjustments contributed to a substantial decrease in the overall external debt," the bureau added.