The country’s external debt, on the other hand, was up three percent or P78 billion.
The Bureau of Treasury (BTr) on Monday revealed that the national government’s debt has reached P7.9 trillion at the end of September, 10.4 percent higher compared to the same month last year.
In a statement, the BTr disclosed that 33.5 percent — or about a third — of the country’s debt was owed from foreign creditors while 66.5 percent came from domestic sources while domestic debt rose 14.6 percent or P670 billion
The country’s external debt, on the other hand, was up three percent or P78 billion.
The agency noted that while the Philippines’ total debt increased by P747.9 billion year-on-year, it was also lower by P31.4 billion compared to the end of August as the budget deficit hit P299 billion in September as rising expenditures outstripped rising tax revenues.
Buddies, associates? One happy family?
A traditional dish called zongzi is served during China’s Dragon Boat Festival, which falls in June. It is a rice…
Divina credited the firm’s achievements to its members, thanking them for their ‘hard work, dedication, teamwork, and…
‘Sec. Vince Dizon, please explain how this finding of your own team should not be flagged as a ghost project in Taguig.’
The government earlier said that it was aiming to ramp up spending in the second half of the year to make up for the effects of the delayed passage of the 2019 budget, which constricted expenditures and slowed down economic growth.
Despite this, actual spending still fell below programmed spending as BTr data showed that the government was targetting to spend P2.684 trillion from January to September but was able to spend only P2.627 trillion, lower by P57 billion.
