Gov’t debt falls to P5.75T

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MANILA — The country’s outstanding debt fell to P5.75 trillion owing to decline in both domestic and foreign obligations.

Data from the Bureau of Treasury showed that the outstanding debt recorded in end-May was 0.7-percent lower than end-April’s P5.79 trillion.

The figure was however, 2.1-percent higher than the P5.63 trillion recorded a year ago.

Comparing it year-on-year, the figure is also 3 percent higher from P3.71 trillion recorded a year ago.

Two-thirds of the total debt portfolio was composed of obligations to local sources.

The Treasury explained that this is in line with the risk management plan to reduce foreign currency exposure.