PH gov’t debt tops P19T as borrowing accelerates

National government debt breaches P19 trillion mark. | Bureau of the Treasury

MANILA, Philippines — The Philippine government’s outstanding debt surpassed the P19-trillion mark in June, showing its continued reliance on borrowing to finance the budget deficit.

Data released by the Bureau of the Treasury on Thursday showed national debt rose 2.8 percent from the previous month to a record P19.07 trillion, bringing the year-on-year increase to 10.4 percent.

READ: PH debt hits new peak at P18.55T

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PH gov’t debt tops P19T as borrowing accelerates

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