Bureau of the Treasury
MANILA, Phiippines — The Philippine government’s outstanding debt climbed past the P19-trillion mark in June, exceeding the Marcos administration’s year-end forecast six months ahead of time as the state continued to rely on borrowing to finance its budget deficit.
Data from the Bureau of the Treasury on Thursday showed the national debt rose 2.8 percent from a month earlier to a record P19.07 trillion, up 10.4 percent from a year earlier.
READ: PH debt hits new peak at P18.55T
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