Philippines' debt down by 2.1 per cent in May


MANILA, July 3 (Xinhua): The Philippines' debt decreased by 2.1 per cent at the end of May due to the repayment of provisional advances from the central bank, the Philippine Bureau of Treasury has announced

The bureau said the national government's total outstanding debt registered at 12.50 trillion pesos (US226.78 billion) in May.

Of the total debt stock, the bureau said 30.7 percent was sourced externally, while 69.3 per cent were domestic borrowings.

The bureau added the country's foreign debt increased by 0.1 per cent in May, attributing the increment to the impact of local and foreign currency fluctuations against the US dollar.

Philippine President Ferdinand Romualdez Marcos, sworn in on Thursday, said his administration is "drawing up a comprehensive all-inclusive plan for economic transformation."

"The priority is economy," Marcos vowed, assembling his economic team to steer the economy. - Xinhua

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Philippines , Country , Debt , May , Down

   

Next In Aseanplus News

Indonesians must prepare for a potential fuel price hike: minister
Same-sex union Bill filed in predominantly Catholic Philippines
Indian, Pakistani siblings reunite 75 years after Partition
Army major arrested for killing student in Vietnam traffic accident
Look up! Saturn to be at its closest on Aug 15
Luxury goods scam: Couple charged with cheating, fleeing Singapore illegally
‘Not without my corgi’: divorce in China turns nasty after couple can’t agree on custody of pet dog, case goes viral
Core inflation forecast at upper range of 2% to 3% in 2022
Indonesia rupiah hits two-month high among mixed Asian FX
Australian court orders Google to pay $43 million for misleading users

Others Also Read