THE Bureau of Treasury (BTr) said that the sovereign debt of the Philippines had increased as of the end of October 2023.

According to the data from the BTr, it showed that the national government has an outstanding debt of P14.48 trillion, which is up 1.49%.

It is up from the previous P14.27 trillion as of end-September 2023.

The Treasury also noted that the month-on-month increase for the government’s debt stock showed the “net issuance and availability of domestic and external loans, as well as the revaluation effect of peso depreciation against the US dollar.”

BTr also said that of the total debt balance, 68.38% of the said amount was actually sourced locally, as the remaining 31.62% came from foreign sources.

On the other hand, the country’s domestic debt is at P9.90 trillion.

It went up by 1.73% from the P9.73 trillion rolled as of end-September.

The government had issued debt securities in order to beef up their coffers.