PH gov't debt hits record P17.56 trillion by end of July

The National Government's outstanding debt reached a record P17.56 trillion by the end of July, exceeding its full-year projection.

This represents an 11.9% increase from the P15.69 trillion debt recorded in July of the previous year.

The current debt level is already P210 billion above the projected P17.35 trillion for the entirety of 2025.

The Bureau of the Treasury anticipates a reduction in debt by December due to the repayment of P814.2 billion in domestic bonds and the conclusion of fundraising activities.

On a monthly basis, the NG debt saw a 1.7% increase from P17.27 trillion in June.

The government leaned on domestic borrowings, which accounted for 76% of the debt stock, to reduce exposure to foreign exchange risks and develop the local capital market.