The government outstanding debt of the Philippines in the first 11 months of last year rose 5.5 percent due to an increase in local loans.
The country's Bureau of the Treasury was reported by Xinhua News Agency as saying that the government's debt as of the end of November last year came to 5.68 trillion pesos (126.2 billion USD), 294 billion pesos (6.5 billion USD) higher than the figure registered in the same period in 2012.
Nearly 66 percent of the total debt came from domestic creditors, while 34 percent was owed to foreign lenders.
The national government's domestic loans saw an increase of 9.9 percent from its year ago level to 3.74 trillion pesos. The external debt declined by 2.2 percent as of the end of November to 1.93 trillion pesos.
The Bureau of the Treasury said domestic debt rose from the end of October last year level due to a net issuance in government securities and the depreciation of the peso against the U.S. dollar.
As for this year, the bureau said that the national government's outstanding debt is expected to breach the 6 trillion peso mark. (1 U.S. dollar equals to 45 pesos).-VNA
The country's Bureau of the Treasury was reported by Xinhua News Agency as saying that the government's debt as of the end of November last year came to 5.68 trillion pesos (126.2 billion USD), 294 billion pesos (6.5 billion USD) higher than the figure registered in the same period in 2012.
Nearly 66 percent of the total debt came from domestic creditors, while 34 percent was owed to foreign lenders.
The national government's domestic loans saw an increase of 9.9 percent from its year ago level to 3.74 trillion pesos. The external debt declined by 2.2 percent as of the end of November to 1.93 trillion pesos.
The Bureau of the Treasury said domestic debt rose from the end of October last year level due to a net issuance in government securities and the depreciation of the peso against the U.S. dollar.
As for this year, the bureau said that the national government's outstanding debt is expected to breach the 6 trillion peso mark. (1 U.S. dollar equals to 45 pesos).-VNA
