End-October debt exceeds P16 trillion as peso weakens

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The story "End-October debt exceeds P16 trillion as peso weakens" was covered 1 days ago by Business Mirror, a news publisher based in Philippines.

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End-October debt exceeds P16 trillion as peso weakens - Business Mirror

Quick Summary:

THE weakening of the Philippine peso has pushed the national government’s outstanding debt to breach the P16-trillion mark as of the end of October 2024.

Debt-to-GDP (gross domestic product), or debt measured against economic growth, is currently at 61.3 percent, above the government’s target and global benchmark after economic growth slowed to 5.2 percent in the third quarter.

Government securities, such as global bonds, worth P2.710 trillion accounted for the bulk of external debt while P2.420 trillion accounted for loans.