Philippines debt decreases to P14.27 trillion

MANILA, Philippines — The country’s outstanding debt saw a slight decrease, reaching P14.27 trillion at the close of September, the Bureau of Treasury reported on Tuesday.

The amount is 0.6% lower, representing a decrease of P80.9 billion compared to the August debt of P14.35 trillion. 

The Bureau of Treasury attributed the dip to the P81 billion worth of repayments of borrowings from local and foreign lenders.

In September, domestic debt fell to P9.73 trillion, a decrease of P56.8 billion.

Foreign loans now stand at P4.53 trillion, significantly lower than August’s P24.1 billion.

The government's guaranteed obligations also decreased by 1.2% to P362.22 billion.