National government debt trims down in July due to stronger peso

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Metro Manila (CNN Philippines, September 2) — National government debt was lower in July as the peso fared better against the dollar.

Latest data from the Bureau of Treasury showed that the government debt in July was recorded at P7.8 trillion, 0.8 percent lower than the previous month.

The Treasury attributed this to a stronger peso and domestic redemptions.

Debt from domestic sources was at P5.25 billion, while debt form foreign sources was at P2.5 billion.

National Government debt was at ₱6.603 trillion by the end of 2016, when President Rodrigo Duterte assumed office. It was at ₱5.267 trillion in 2010, when former President Benigno Aquino III was elected, and at ₱4.645 trillion when former President Gloria Macapagal Arroyo was elected for a second term in 2004.

READ: Strong peso trims value of National Government debt in June