The government debt climbed to a new record of P15.69 trillion by the end of July, primarily due to the issuance of government securities and new project loans, according to the Bureau of the Treasury (BTr) on Tuesday.
Data from the BTr indicated that total debt increased by P206.49 billion in July, reflecting a 1.3 percent rise from the previous month. Compared to the same period last year, the total debt grew by 10.1 percent, amounting to an additional P1.45 trillion.
The increase in debt was largely attributed to higher domestic borrowings, although a stronger peso helped offset some of the debt burden.