Philippines' total debt rises 1.3 pct in end-May
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E-mail Xinhua, July 4, 2023
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MANILA, July 4 (Xinhua) -- The Philippines' debt rose to 14.10 trillion pesos (roughly 255.3 billion U.S. dollars) as of end-May, a 1.3 percent increase from total outstanding debt recorded in end-April, the Philippine Bureau of Treasury said on Tuesday.
The bureau attributed the increase to the net issuance of domestic and external debt, as well as the depreciation of the local currency against the U.S. dollar.
Of the total debt stock, 68 percent was sourced domestically, while 32 percent was external borrowings. The external debt amounted to 4.51 trillion pesos (roughly 81.65 billion U.S. dollars), 1.2 percent higher than in April, the bureau added. Enditem
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