In a statement, the Bureau of the Treasury said this surge was primarily driven by the net issuance of both domestic and external debt.
Domestic debt, which constitutes 68.54 percent of the total debt stock, stood at P10.75 trillion in July, up by P180.03 billion or 1.7 percent from June 2024. The increase was mainly due to the net issuance of government securities amounting to P180.52 billion.
However, this rise was slightly offset by a P490-million downward revaluation resulting from the appreciation of the peso against the US dollar.
Since the start of 2024, domestic debt has grown by P735.22 billion, representing a 7.3-percent increase.
External debt, accounting for 31.46 percent of the total, rose by P26.45 billion or 0.5 percent to P4.94 trillion as of July 2024.
This increase is attributed to net availments of project loans totaling P5.25 billion and a third-currency upward revaluation of P35.44 billion. These factors were partially mitigated by the P14.23-billion impact of the peso's appreciation. Since the start of the year, external debt has risen by P338.50 billion or 7.4 percent.
Meanwhile, national government guaranteed obligations rose slightly by P1.14 billion to P344.79 billion in July, primarily due to currency adjustments, despite some net repayments.
