The National Government’s total outstanding debt stood at P13.64 trillion as of end-October, the Bureau of Treasury said Wednesday.

The National Government's total debt portfolio reflects a P123.92 billion or 0.92 percent increase from the end-September level largely due to the net availment of both local and external loans.

National Government debt has increased by P1.91 trillion or 16.31 percent since end-December 2021.

Domestic debt amounted to P9.36 trillion, which is P54.58 billion or 0.59 percent higher compared to the end-September level.

For October, the increment to domestic debt was primarily due to the net issuance of government securities amounting to P55.83 billion while local currency appreciation against the US dollar trimmed P1.25 billion.

Domestic debt comprises 68.58 percent of the total debt stock and has increased by P1.18 trillion or 14.5 percent since the beginning of the year due to continued preference for domestic financing to mitigate foreign currency risk.

External debt amounted to P4.28 trillion, P69.34 billion or 1.64 percent higher from the end-September level due to the P118.71 billion net availment of foreign financing.

This was partly offset by the favorable net impact of both local- and third-currency fluctuations against the US dollar amounting to P43.07 billion and P6.30 billion, respectively.

Year-to-date external debt has increased by P727.65 billion or 20.45 percent primarily due to local- and third-currency fluctuations that increase the peso

value of foreign denominated obligations.

Total National Government guaranteed obligations decreased by P10.69 billion or 2.69 percent month-over-month to P386.53 billion as of end-October.

For October, the lower level of guaranteed debt was due to the net repayment of domestic guarantees amounting to P7.30 billion and the impact of currency fluctuation on both local- and third currency denominated guarantees amounting to P2.20 billion and P1.79 billion, respectively.

These were slightly tempered by the net issuance of external guarantees amounting to P0.60 billion.

From the end-December 2021 level, total National Government guaranteed debt is lower

by P37.38 billion or 8.82 percent. Bureau of Treasury