The country's total outstanding debt rose by 0.7 percent to P14.24 trillion in July compared to June, with the increase being pinned on the government's issuances of domestic securities, the Bureau of Treasury reported Friday.

The total outstanding debt consists of 68.9 percent domestic loans and 31.1 percent external loans as of the end of July, the BTr said.

Domestic borrowings stood at P9.81 trillion, up by 1.1 percent month-on-month. This reflected the government's net issuance of bonds amounting to P110.39 billion.

"This offsets the P0.85 billion effect of local currency appreciation against the US dollar on onshore foreign currency-denominated securities," BTr said.  External debt, on the other hand, reached P4.43 trillion, down by 0.3 percent between June and July.

"The reduced debt was due to the effect of the peso appreciation against the US dollar, amounting to P42.87 billion," it explained.

The total debt with guaranteed repayment from the national government decreased by 1.7 percent to P363.39 billion in July.

"For the month, the decline in guaranteed debt was attributed to the net repayment of both domestic and external guarantees amounting to P5.30 billion and P0.21 billion, respectively," the Treasury said.