Photo Courtesy of JCR
The total debt of the Philippines has surged to P14.15 trillion after an increase of P51.31 billion in June 2023, according to data from the Bureau of Treasury. This represents a 0.4% rise compared to the national debt in May of the same year.
Of the overall debt, 68.6% constitutes domestic borrowings, while 31.4% comprises foreign borrowings. Since the beginning of 2023, domestic debt has reached P494.44 billion, while the external debt has reached P4.45 trillion.
Government economists have offered the perspective that, despite the increasing national debt, the situation remains “manageable.” This assessment comes in the midst of ongoing discussions about the country’s borrowing practices and fiscal management.
The continuous monitoring of the national debt remains a priority for economic policymakers as they navigate the complexities of managing the country’s financial obligations.
