The Philippine government’s debt surged to P13.7 trillion by the end of January 2023, according to Bureau of Treasury (BTr).
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It increased by 2.1 percent or P279.63 billion “due to the net availment of domestic and external debt.”
The BTr said that out of the total debt stock, 31.5 percent was from loans from foreign sources, while 68.5 percent was from domestic borrowings.
The domestic debt of P9.38 trillion rose to 1.9 percent or P176.55 billion.
Meanwhile, the foreign borrowings amounted to P4.31 trillion climbed by 2.4 percent or P103.08 billion.