The national government (NG) reported outstanding debt rising 1.9 percent higher in October 2016 to P6.069 trillion, increasing by P114.78 billion compared to year-ago figures. Total NG outstanding debt from January to October amounted to P5.957 billion.
According to data from the Bureau of Treasury (BTr), the nationa government’s liabilities decreased by P17.36 billion, or 0.3 percent compared to its end-September level of P6.086 trillion, due to currency adjustments and net repayment of external debt.
National government domestic debt in October amounted to P3.917 trillion, increasing by 0.5 percent, or P19.704 billion, from P3.898 trillion last year.
“For the month, the increase in domestic debt portfolio was mainly due to the net issuance of government securities,” the BTr said.
National government domestic debt in October rose 0.3 percent, or P13.368 billion, compared to only P3.904 trillion recorded in September this year. Year-to-date, domestic liabilities of the government reached P67.473 trillion.
National government external debt stood at P2.151 trillion, up by 4.5 percent, or P91.904 billion, compared to the P2.059 trillion in the same month in 2015.
The government’s external debt in October this year was down 1.4 percent, or P30.729 billion, compared to the previous month’s P2.182 trillion.
“The drop in external debt level was due to the effect of third currency depreciation against the United States dollar that resulted in reduction of the peso value of third currency liabilities by P10.75 billion and net repayments amounting to P20.12 billion. Peso devaluation over the period had a minimal effect amounting to P0.14 billion,” the BTr added.
From January to October, the NG reported aggregate external debt of P21.102 trillion.
BTr data also show total NG guaranteed obligations amounting to P560.65 billion, which decreased by P4.30 billion, or 0.8 percent, relative to the prior month’s level of P564.953 billion.
“The reduction in national government contingent liabilities was due to the collective effect of net repayments on domestic guarantees and currency depreciation on the peso value of third currency-denominated guarantees amounting to P0.61 billion and P4.32 billion, respectively,” the BTr said.
Year-on-year, total government guaranteed debt increased by 27.1 percent, or P119.656 billion, from the October 2015 level of P440.996 billion.
“This offset the effect of weaker peso against the US dollar, amounting to P0.02 billion and net availment on external guarantees amounting to P0.61 billion,” the BTr added.
Domestic guaranteed debt totaled P238.408 billion for October this year, increasing by 73 percent or P100.626 billion compared to the October 2015 level of P137.782 billion.
External guaranteed debt of the government amounted to P322.244 billion, higher by 6.3 percent, or P19.030 billion, compared to the recorded P303.214 billion of the same month the previous year.