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PH Gov’t Debt Surpasses P19 Trillion Amid Accelerated Borrowing
The Philippine government's outstanding debt reached a record P19.07 trillion in June, underscoring its continued reliance on borrowing to finance the budget deficit. This marks a 7.7% increase since the beginning of the year.
MANILA, Philippines — The Philippine government’s outstanding debt surpassed the P19-trillion mark in June, showing its continued reliance on borrowing to finance the budget deficit. Data released by the Bureau of the Treasury on Thursday showed national debt rose 2.8 percent from the previous month to a record P19.07 trillion, bringing the year-on-year increase to 10.4 percent. READ: PH debt hits new peak at P18.55T Outstanding debt has expanded by nearly P1.4 trillion, or 7.7 percent, since the start of the year. READ: Gov’t debt payments up 12% in April The Treasury said the increase reflected the government’s ongoing fiscal program and financing strategy, while noting that the debt portfolio remained resilient. /pai IINQ
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