By Junex Doronio
MANILA — In a similar vein to viewing a glass of water as half-full, the Philippines’ total domestic debt stood at P10.28 trillion in March, marking a decrease of P299.21 billion or 2.83 percent compared to February.
“The decline resulted from the P299.45 billion net redemption of government securities offsetting the P0.24 billion effect of peso depreciation on foreign currency domestic debt,” the Bureau of Treasury (BTr) explained.
It was gathered that since the start of 2024, domestic debt has increased by P259.56 billion or 2.59 percent.
The country’s external debt has notably increased by P49.89 billion or 1.09 percent.
“The peso depreciated against the (US dollar) from P56.174 as of end-February 2024 to P56.260 as of end-March 2024,” the BTr further justified.
Maharlika NuMedia learned that the country’s total foreign debt of P4.65 trillion was P46.23 billion or 1 percent higher than the end of February 2024 level.
“The increase resulted from the net availment of foreign loans amounting to P44.01 billion, as well as local currency depreciation which added to the valuation of US dollar-denominated debt by P7.05 billion,” the BTr noted.
(el Amigo/MNM)
