THE national government’s debt recorded an overall P11.73 trillion as of December of last year.
Based on data released by the Bureau of the Treasury (BTr), the country’s debt last year is about 1.7-percent, or P1.93 trillion, higher than the P9.8 trillion recorded by the end of year 2020.
Around 69.7 percent of the national government’s debt came from domestic borrowings while 30.3 percent were sourced externally.
Also, the BTr pointed out that the country’s debt-to-gross domestic product (GDP) ratio, which is the ability of the national government to pay off its debt, is now at 60.5 percent, higher than the 54.6 percent recorded in 2020.
However, the BTr said this level is acceptable while the economy recovers from the effects brought about by the COVID-19 pandemic.