MANILA, Sept. 1 (Xinhua) -- The Philippines' debt ballooned to 11.61 trillion pesos (roughly 232 billion U.S. dollars) at the end of July, according to the latest data released by Philippine Bureau of Treasury.

The bureau said the country's total debt in July increased by 444.43 billion pesos (roughly 8.88 billion U.S. dollars) or 4 percent from June due to peso depreciation and the national government's borrowings from foreign and local lenders.

Of the total debt stock, 30.1 percent was sourced externally while 69.9 percent were domestic. Foreign debt has increased by 12.6 percent from the end-December 2020 level, showed the data released Tuesday.

The Philippines has been waging a costly battle against COVID-19 since the disease emerged in January last year. The highly infectious viral disease has since infected over 2 million people, including 33,533 deaths. Enditem

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