Philippine debt to breach P10T by yearend, near P12T in 2021
The Philippine government's outstanding debt is projected to reach P10.16 trillion by the end of 2020 and increase to nearly P12 trillion by the end of 2021.
In 2020, gross domestic borrowings will amount to P2.22 trillion, with a significant portion coming from treasury bills and bonds.
For 2021, additional borrowing is expected to total P3.48 trillion, with 71% sourced domestically.
The government plans to issue P48 billion in short-dated T-bills this year while P432 billion worth will mature within the same period.
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