The Philippine national government’s total outstanding obligations climbed to ₱19.39 trillion as of July’s end, reflecting a ₱323.53 billion increase from the previous month driven by fresh domestic borrowings, new foreign loans, and currency revaluations.
Figures from the Bureau of the Treasury show that total debt previously stood at ₱19.07 trillion at the end of June, with domestic obligations comprising 67.61% of the total liability mix and external debt accounting for the remaining 32.39%.
Domestic debt expanded by 2.11%—or ₱271.33 billion—to finish at ₱13.11 trillion, up from ₱12.84 trillion in June. Treasury officials attributed the rise primarily to ₱271.22 billion in net government security issuances, alongside a slight upward valuation of Onshore Dollar Bonds.
Meanwhile, external liabilities rose by 0.84% to reach ₱6.28 trillion, up ₱52.2 billion from the ₱6.23 trillion recorded the prior month. The increase was driven by ₱17.1 billion in net foreign loan availments, compounded by the weakening of the Philippine peso against the US dollar and other international currencies, which pushed up the local currency equivalent of foreign-denominated obligations.
Guaranteed debt obligations of the national government also edged up by 0.35%—or ₱1.06 billion—rising from ₱305.07 billion at the end of June to ₱306.13 billion at the end of July.
A ₱1.47 billion revaluation of external guarantees drove the increase, though it was partially tempered by ₱260 million in net repayments on foreign guarantees and ₱150 million on domestic guarantees.