<\/p>\n
By Justine Irish D. Tabile<\/strong>, Senior Reporter<\/em><\/p>\n THE National Government\u2019s (NG) outstanding debt rose to a fresh record high of P18.49 trillion as of end-March, driven partly by the peso\u2019s depreciation, the Bureau of the Treasury said.<\/p>\n Latest data from the Treasury showed that the debt went up by 1.81% from P18.16 trillion at the tip of February.<\/p>\n Yr on 12 months, outstanding debt went up by 10.81% from P16.68 trillion at end-March 2025.<\/p>\n NG debt is the overall amount owed by the Philippine government to creditors equivalent to international financial institutions, development partner-countries, banks, global bondholders and other investors.<\/p>\n \u201cThe expansion was primarily driven by the revaluation impact of peso depreciation against the US dollar, alongside net issuance of domestic securities,\u201d the Treasury said in a press release late Wednesday.<\/p>\n The majority or 67.8% of the overall debt stock got here from domestic sources, while the remainder were external borrowings.<\/p>\n Domestic debt, which was composed of presidency securities, inched up by 0.44% to P12.53 trillion at end-March from P12.48 trillion at end-February.<\/p>\n Yr on 12 months, it jumped by 10.15% from P11.38 trillion.<\/p>\n In accordance with the BTr, the rise in domestic debt was \u201cmainly because of net issuance of presidency securities amounting to P46.72 billion.\u201d<\/p>\n \u201cAs well as, peso depreciation contributed P8.68 billion to the peso value of foreign-currency-denominated domestic securities,\u201d it added.<\/p>\n The peso closed P60.748 against the dollar on March 31, weakening by P3.083 from its P57.665 close on February 27.<\/p>\n Meanwhile, external debt jumped by 4.81% to P5.95 trillion as of end-March from P5.68 trillion at end-February.<\/p>\n Yr on 12 months, it surged by 12.24% from P5.3 trillion in the identical period.<\/p>\n The Treasury said the rise was \u201clargely attributed to the depreciation of the peso,\u201d which raised the peso value of foreign currency-denominated obligations by P299.50 billion.<\/p>\n This was partly offset by \u201cnet repayments of P2.55 billion and downward revaluation of third-currency debt by P23.92 billion,\u201d it added.<\/p>\n External debt was composed of P3 trillion in global bonds and P2.94 trillion in loans.<\/p>\n The NG\u2019s guaranteed obligations inched up by 0.37% to P381.41 billion as of end-March from P379.98 billion within the previous month.<\/p>\n \u201cThe movement was influenced by the impact of peso depreciation on the valuation of external guarantees, which added P4.53 billion,\u201d the BTr said.<\/p>\n The rise was, nevertheless, partly offset by net repayments on domestic and external guarantees, which reduced the debt level by P760 million and P1.50 billion, respectively.<\/p>\n \u201cAs well as, favorable third currency fluctuations provided a further P840 million offset,\u201d it said.<\/p>\n Yr on 12 months, guaranteed obligations increased by 12.23% from P339.86 billion.<\/p>\n The NG\u2019s outstanding debt is projected to achieve P19.06 trillion by end-2026 under the Budget of Expenditures and Sources of Financing 2026.<\/p>\n Under the Medium-Term Fiscal Framework 2022-2030, updated in October 2025, the federal government seeks to bring the debt-to-gross domestic product (GDP) ratio all the way down to 58% by 2030.<\/p>\n Last 12 months, the debt-to-GDP ratio climbed to 63.2%, the very best annual level in twenty years or because the 65.7% recorded in 2005.<\/p>\n First-quarter GDP and debt-to-GDP ratio data can be released on Thursday (May 7).<\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" A Philippines peso note is seen on this picture illustration on June 2, 2017. \u2014 REUTERS By Justine Irish D. Tabile, Senior Reporter THE National Government\u2019s (NG) outstanding debt rose to a fresh record high of P18.49 trillion as of end-March, driven partly by the peso\u2019s depreciation, the Bureau of the Treasury said. Latest data […]<\/p>\n","protected":false},"author":1,"featured_media":330671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[5007,8051,836,51439,2364,43742,5846],"class_list":["post-330670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-debt","tag-march","tag-outstanding","tag-p18-49","tag-philippines","tag-swells","tag-trillion"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/330670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=330670"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/330670\/revisions"}],"predecessor-version":[{"id":330673,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/330670\/revisions\/330673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/330671"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=330670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=330670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=330670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}