The total outstanding debt of the national government stood at Php 13.42 trillion as of end-December 202, the Bureau of Treasury (BTr) reported on Thursday, February 2.
In its latest data, BTr said the debt slightly decreased by 1.7 percent or Php 225.31 billion from the Php 13.64 trillion debt recorded in end-November 2022.
Despite the decrease, BTr said the full-year national debt rose by Php 1.69 trillion or 14.4 percent.
According to the Treasury, the ease in the country's debt in December 2022 is mainly due to the appreciation of the Philippine peso against US dollars and the net redemption of domestic government securities.
Out of the total debt, 68.62 percent is domestic debt while 31.38 percent is borrowed externally.
The domestic debt amounted to Php 9.21 trillion which is 2.3 percent lower than Php 9.43 trillion recorded in November 2022.
Meanwhile, the external debt was pegged at Php 4.1 trillion. This figure is 0.1 percent or Php 5.73 billion lower as compared to the Php 4.22 trillion in the previous month.
On the other hand, the Treasury noted that the debt-to-GDP ratio has improved as it settled at 60.9 percent in end-2022 from 63.7 percent in the third quarter of 2022.
"This reflects the consistent drive to bolster debt sustainability through prudent cash and debt management backed by resurgent economic growth," it said.
