The government’s debt service climbed 40.6 percent year-on-year in May 2024 on higher interest payments, the Bureau of the Treasury said over the weekend.
This brought the government’s total debt payment to P1.21 trillion in the first five months of 2024, up from P819.52 billion a year ago.The government settled P61.09 billion in debt interest in May, up from P41.3 billion in the same month last year. In the first five months, interest payments climbed to P321.58 billion from P229.66 billion.
Broken down, the government paid P26.50 billion in fixed-rate Treasury bonds , P16.87 billion in retail T-bonds, P2.07 billion in Treasury bills and P617 million in other instruments.
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