Philstar
Government debt eases to P17.5 trillion in end-August
The Philippines' total debt decreased to P17.47 trillion in August, a reduction of P95.07 billion from July.
This decline was primarily due to the government fully repaying its largest domestic bond for the year, valued at P516.34 billion, and a stronger peso.
The stronger peso also helped reduce the value of the country's external debt, with the foreign exchange rate at P57.042 per dollar in August compared to P58.186 in July.
Despite the reduction, the August debt level is P120 billion above the 2025 ceiling of P17.35 trillion and 12 percent higher than P15.55 trillion in August last year.
The share of domestic debt in total borrowings increased to 69.2 percent, indicating a more favorable debt position less vulnerable to foreign exchange fluctuations.
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