National Government Debt Hits Record ₱14.35 Trillion As Of End-August

The outstanding debt of the national government (NG) reached a record P14.35 trillion as of the end of August, primarily due to the peso's depreciation against the US dollar, as reported by the Bureau of the Treasury (BTr).

The outstanding debt increased by 0.7% from P14.24 trillion as of the end of July. I Photo: Joey Razon, Philippine Information Agency

The outstanding debt increased by 0.7% from P14.24 trillion as of the end of July, according to data from the BTr.

The BTr stated in a press release, "The P105.28 billion or 0.7% increment from the previous month's level was primarily due to the peso depreciating from P54.834 to P56.651 against the US dollar over the reference period."

It further pointed out that the debt stock rose by 10.2% year-on-year from P13.02 trillion as of the end of August 2022.

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