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Philippines' debt down to 259 bln USD in end-March

Philippines' debt down to 259 bln USD in end-March

The Philippines' debt reduced to 14.93 trillion PHP (259 billion USD) as of end-March, 1.67% lower than the country's outstanding debt recorded in end-February, the country’s Bureau of Treasury said on May 2.

The Philippines' debt reduces to 14.93 trillion PHP (259 billion USD) as of end-March. (Photo: philstar.com)
The Philippines' debt reduces to 14.93 trillion PHP (259 billion USD) as of end-March. (Photo: philstar.com)

Hanoi (VNA) - The Philippines' debt reduced to 14.93 trillion PHP (259 billion USD) as of end-March, 1.67% lower than the country's outstanding debt recorded in end-February, the country’s Bureau of Treasury said on May 2.

The bureau attributed the decrease in March debt to the net redemption of domestic government securities.

Of the total debt stock, the bureau said 31.14% was sourced externally, and the rest domestic borrowings.

The bureau said the country's external debt amounted to 4.65 trillion PHP in March, 1% higher than the end-February level.

The increase was partially resulted from local currency depreciation, added the bureau./.

VNA
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