In a statement, the BoT said the end-November debt of the National Government was 3.15 billion or .02 percent higher than the end-October 2022 debt stock.
It said 69.10 percent of the total debt or P9.43 trillion was sourced domestically, while 30.90 percent or P4.216 trillion was from foreign borrowings.
The agency said there was a 1.62 percent decline on foreign debt as of the end of October “due to the P106.98-billion impact of local currency appreciation and P13.38 billion net repayment.”
It said the increase on the National Government’s debt was primarily due to the effect of the peso appreciation against the US dollar on foreign currency loans.
The Philippine peso appreciation against the US dollar as of the end of November was at P56.598 per $1 from P58.047 per $1 during the end of October. (SunStar Philippines)