The National Government's total outstanding debt amounted P15.35 trillion as of end-May, the Bureau of Treasury said Thursday.

Total debt increased by P330.39 billion or 2.2 percent from the end-April level primarily due to the impact of local currency depreciation on the valuation of foreign-currency denominated debt.

Of the total debt stock, 31.96 percent is external debt while 68.04 percent is domestic debt.

The end-May domestic debt level of P10.44 trillion is P134.34 billion or 1.3 percent higher compared with the end-April 2024 level.

The increase resulted from the P131.66 billion net issuance of government securities and P2.68 billion effect of peso depreciation on

foreign-currency denominated domestic debt.

Since the beginning of the year, domestic debt has increased by P424.91 billion or 4.2 percent while year-on-year expansion is P854.33 billion or 8.9 percent.

National Government external debt of P4.90 trillion was P196.04 billion or 4.2 percent higher than the end-April level.

For May, the increase in external debt can be attributed to P122.04 billion in net foreign loan availment and P76.94 billion in upward revaluation of US dollar denominated debt.

Meanwhile, favorable third-currency movement provided a P2.94

billion downward revaluation effect. External debt has increased by P306.42 billion or 6.7 percent from its end-December 2023 level and by P339.15 billion or 7.4 percent on a year-on-year basis.

National Government guaranteed obligations have decreased by P5.85 billion or 1.6 percent from its end-April level to P350.20 billion as of end-May.

The decline in NG guarantees was due to net repayment on both domestic and external guarantees amounting to P4.36 billion

and P3.55 billion, respectively.

In addition, third-currency adjustments against the US dollar further trimmed P0.62 billion, dampening the P2.68 billion increment caused by peso depreciation against the US dollar.

From the end-December 2023 level, National Government guaranteed obligations have increased by P0.76 billion of 0.2 percent. Bureau of Treasury