NG debt tops P9T in June due to pandemic expenses

The National Government's outstanding debt surpassed the P9-trillion mark in June due to increased borrowing for pandemic-related expenses.

As of end-June, the debt climbed 1.8% to P9.054 trillion from May and was 15.1% higher than a year ago.

Domestic borrowings accounted for two-thirds of the total debt, with local government securities increasing by 2.7% month-on-month.

Each Filipino's share of the national debt is now P83,239, reflecting the financial burden on citizens to repay borrowed funds used for testing, isolation facilities, and vaccine procurement.

External borrowings contributed 32% of the total debt, with a net inflow of P413.6 billion from January to June.