The National Government’s (NG) total outstanding debt amounted to P13.75 trillion as of end-February from last month's P13.7 trillion.

For the month, the NG’s total outstanding debt increased by P54.26 billion or 0.4 percent primarily due to the net issuance of domestic securities.

Of the total debt stock, 31.3 percent was sourced externally while 68.7 percent were domestic borrowings.

NG domestic debt amounted to P9.44 trillion, P57.22 billion or 0.6 percent higher compared to the end-January level due to the net availment of domestic financing amounting to P55.88 billion and the P1.34 billion effect of local currency depreciation against the US dollar on onshore foreign denominated securities.

From the end-December 2022 level, NG domestic debt has increased by P233.78 billion or 2.5 percent.

NG's external debt amounted to P4.31 trillion, P2.96 billion or 0.1 percent lower from the previous month due to the P21.15 billion net repayment of foreign loans and P32.32 billion impact of third-currency adjustments against the US dollar.

These outweighed the effect of local currency depreciation against the US dollar, which amounted to P50.51 billion.

Compared to the end of December 2022, external debt has increased by P100.12 billion or 2.4 percent.

Total NG guaranteed obligations decreased by 1.7 percent or P6.64 billion month-overmonth to P387.19 billion as of the end of February. The reduction was due to the net repayment of both domestic and external guarantees amounting to P2.56 billion and P3.21 billion, respectively.

The effect of net depreciation against the US dollar on third-currency denominated guarantees further trimmed P3.09 billion, more than offsetting the net depreciation effect of the local currency amounting to P2.22 billion.

Since the end of December 2022, NG's guaranteed debt has decreased by 3 percent or P11.86 billion. Bureau of Treasury