Philip­pine debt jumps by 4.3% in first half

China Daily (USA) - - BUSINESS -

The Philip­pine debt in­creased by 4.3 per­cent year-on-year to 4.889 tril­lion pe­sos ($102.28 bil­lion) for the first half of the year, largely due to do­mes­tic bor­row­ing, the Depart­ment of Fi­nance said. Nearly two-thirds of the to­tal debt came from lo­cal bor­row­ing, while funds sources from over­seas lenders reached 2.052 tril­lion pe­sos. The gen­eral gov­ern­ment’s debt con­sists of the out­stand­ing obli­ga­tions of the na­tional gov­ern­ment, the Cen­tral Bank Board of Liq­uida­tors, so­cial se­cu­rity in­sti­tu­tions and the lo­cal gov­ern­ment units mi­nus that held by the Bond Sink­ing Fund.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.