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Philippines' debt rises to 264.42 bln USD in end-June

MANILA
2024-07-31 11:18

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MANILA, July 31 (Xinhua) -- The Philippines' debt has soared to 15.48 trillion pesos (roughly 264.42 billion U.S. dollars) as of the end of June 2024, a 0.9 percent increase from the end of May, according to the data released by the Philippines' Bureau of Treasury on Tuesday.

The bureau attributed the rise in the national government's debt level in June to the net issuance of both domestic and external debt and the effect of peso depreciation.

"This was partially offset by the impact of third-currency depreciation on the valuation of corresponding debt denominated in those currencies," the bureau added.

The bureau said 31.71 percent of the total debt stock was sourced externally, while 68.29 percent were domestic borrowings.

The bureau said the country's external debt amounted to 4.91 trillion pesos (83.8 billion dollars) in June, 0.1 percent higher than a month earlier.
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