MANILA, Philippines (Xinhua) - The Philippine government's debt rose by 6.2 percent on year to 5.64 trillion pesos (128.62 billion US dollars) as of end-April on the back of increases in its foreign and domestic obligations.
Figures released by the Bureau of Treasury today showed that loans sourced from domestic creditors went up by 7.2 percent on year to 3.86 trillion pesos (84.06 billion US dollars) in April.
Domestic loans accounted for 65 percent of the Philippine government's debt stock during the period.
External borrowings, which accounted for 35 percent of the national government's debt, rose by 4.5 percent year on year.
The Philippine government continued to source the bulk of its borrowings from domestic sources to better manage foreign exchange risk and deepen the domestic capital markets.