The national government closed December with outstanding obligations totaling P17.71 trillion, extending a run in which debt levels have exceeded the Marcos administration’s full-year borrowing plan for three straight months.
Figures released by the Bureau of the Treasury (BTr) indicate the end-December balance was higher by 10.32 percent compared with the P16.05 trillion recorded in the same month last year, reflecting both financing activity and currency movements.
In a statement, the BTr attributed the expansion to deliberate net issuance of debt instruments to support government development initiatives, alongside valuation adjustments linked to the peso’s weakening against the US dollar and other foreign currencies.
The latest tally again places total debt above the government’s programmed full-year borrowing level of P17.36 trillion.
Of the total, domestic liabilities accounted for P12.2 trillion, while obligations sourced from external lenders stood at P5.59 trillion.
