The National Government’s (NG) total outstanding debt amounted to a new high of P13.86 trillion as of end-March, the Bureau of Treasury said Monday.

Total national government outstanding debt increased by P104.15 billion or 0.8 percent from the previous month, primarily due to the net issuance of domestic and external debt.

Of the total debt stock, 68.7 percent was sourced domestically while 31.3 percent were external borrowings.

NG domestic debt rose to P9.51 trillion, P71.00 billion or 0.8% higher compared to the end-February level.

In March, the P72.87 billion net issuance of domestic securities outweighed the P1.87 billion effect of local currency appreciation against the US dollar on onshore foreign currency denominated securities.

From end-December 2022 level, national goverment domestic debt has increased by P304.78 billion or 3.3 percent.

External debt amounted to P4.34 trillion, P33.15 billion or 0.8 percent higher from the previous month.

The increment in NG’s external obligation for the month was attributed

to the P84.26 billion net availment of foreign loans and P18.53 billion impact of thirdcurrency adjustments against the US dollar.

These more than offset the P69.64 billion effect of local currency appreciation against the US dollar.

From end-December 2022 level, the country's external debt has increased by P133.27 billion or 3.2 percent.

Month-on-month, total NG guaranteed obligations decreased by P3.07 billion or 0.8 percent to P384.12 billion as of end-March 2023.

The lower level of guaranteed debt was due to the net repayment of both domestic and external guarantees amounting to P0.01 billion and P1.52 billion, respectively.

The net appreciation of the peso relative to the US dollar further trimmed P2.99 billion. These were tempered by the net appreciation of third-currency denominated guarantees against the US dollar amounting to P1.45

billion.

From end-December 2022 level, NG guaranteed debt has decreased by

P14.93 billion or 3.7 percent. Bureau of Treasury