As of end June 2023, the total outstanding debt reached P14.148 trillion, marking a 10.6 percent increase compared to the P12.792 trillion recorded in the same month of the previous year.
On a month-on-month basis, the domestic debt rose by 1.2 percent from May's level of P89.588 trillion. These adjustments resulted in a decrease in the peso value of the debt, amounting to P69.98 billion and P8.28 billion, respectively. By shifting the focus from the total debt value to the debt-to-gross domestic product ratio, Diokno explained that it will provide a more accurate understanding of the country's debt burden.
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