MANILA, Philippines — The country’s total debt is at P10.77 trillion overall as of the end of March 2021, according to the Bureau of Treasury’s statement on Monday.
Last March, the government borrowed another P368 billion, a 3.5 percent increase from February 2021.
Since the start of the year, the country’s debt increased by10 percent due to the P978.8 billion borrowed funds.
The government has borrowed almost P2.3 trillion since March of last year.
The Bureau of Treasury reports that 28 percent of our total debt stock was to foreign debt while 72 percent was domestic.
This sums up to P3.03 trillion in foreign debt and P7.74 trillion in domestic debts which was used heavily in response to the COVID-19 pandemic and infrastructure push in the Philippines.
Written By: Ghelo Carreon
Source: ABS-CBN News