PH debt hit new high of P 10.77T in March Inquirer Business


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More domestic borrowings in March lifted the national government’s outstanding debt to a new high of P10.77 trillion at the end of the first quarter. In a report on Monday, the Bureau of the Treasury said the government’s outstanding obligations further rose by 3.5 percent from P10.41 trillion in February mainly due to the P463.3 billion in retail treasury bonds (RTBs) sold to small investors last March. ADVERTISEMENT Year-on-year, debt jumped 27.1 percent as of March from P8.48 trillion a year ago. The government has been ramping up borrowings since the second quarter of last year to bolster its war...