Gov’t debt burden breaches P10-T mark

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The national government’s outstanding debt breached the P10-trillion mark for the first time in October mainly due to the renewed repurchase agreement which borrowed an even bigger amount from the central bank.

The latest Bureau of the Treasury data Friday showed that the end-October outstanding obligations amounted to P10.03 trillion, up 26.8 percent from P7.91 trillion a year ago and 7.03-percent bigger than the P9.37 trillion a month ago.

Domestic debt, which accounted for the bulk or 71.6 percent of the outstanding stock, rose 33.4 percent year-on-year and 9.9 percent month-on-month to P7.08 trillion.

In a statement, the Treasury attributed the increase in locally sourced ob…

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