Government debt up to P5.156 trillion as of July

THE Philippine government's debt rose to P5.156 trillion as of July this year after the domestic debt climbed, the Bureau of Treasury said on Wednesday.

The National Government's latest debt was P56.06 billion higher from end-June 2012 level.

Of the total debt, P2.039 trillion or 39.55 percent is owed to foreign creditors and P3.117 trillion or 60.45 percent to domestic creditors.

"Domestic debt increased by P67.25 billion from the previous month's level due to the combined effects of the P67.50 billion net issuance of government securities and P0.25 billion depreciation of the USD and the euro against the peso on Multicurrency retail treasury bonds (RTBs)," the treasury bureau said.

Foreign debt fell by P11.19 billion from end-June 2012 level due to the P19.37 billion appreciation of the local currency against the US dollar. This, however, was partially offset by the P7.58 billion net appreciation of third currencies against the US dollar and net availment of P0.60 billion. (SDR/Sunnex)