DEBT INDICATORS

CY 2022
Particulars CY 2013 CY 2014 CY 2015 CY 2016 CY 2017 CY 2018 CY 2019 CY 2020 CY 2021
Jan Feb Mar Apr
A. National Government (NG) Debt
NATIONAL GOVERNMENT
OUTSTANDING DEBT * 5,681,153 5,735,242 5,954,537 6,090,262 6,652,430 7,292,500 7,731,290 9,795,006 11,728,549 12,029,672 12,093,500 12,679,785 12,763,187
Growth rate (%) 4.5% 1.0% 3.8% 2.3% 9.2% 9.6% 6.0% 26.7% 19.7% 2.6% 0.5% 4.8% 0.7%
Domestic (P Million) 3,733,422 3,820,603 3,884,380 3,934,097 4,441,260 4,776,859 5,127,600 6,694,687 8,170,414 8,367,788 8,413,204 8,868,651 8,935,854
Growth rate (%) 7.6% 2.3% 1.7% 1.3% 12.9% 7.6% 7.3% 30.6% 22.0% 2.4% 0.5% 5.4% 0.8%
External (P Million) 1,947,731 1,914,639 2,070,157 2,156,165 2,211,170 2,515,641 2,603,690 3,100,319 3,558,135 3,661,884 3,680,296 3,811,134 3,827,333
Growth rate (%) -1.1% -1.7% 8.1% 4.2% 2.6% 13.8% 3.5% 19.1% 14.8% 2.9% 0.5% 3.6% 0.4%
(US$ Million) 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
Growth rate (%) -8.5% -2.2% 2.5% -1.3% 2.2% 8.1% 7.1% 26.0% 8.1% 2.6% 0.0% 2.5% -0.4%
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Domestic 65.7% 66.6% 65.2% 64.6% 66.8% 65.5% 66.3% 68.3% 69.7% 69.6% 69.6% 69.9% 70.0%
External 34.3% 33.4% 34.8% 35.4% 33.2% 34.5% 33.7% 31.7% 30.3% 30.4% 30.4% 30.1% 30.0%
% of GNI
Total NG Debt 42.2% 38.9% 38.3% 36.2% 36.2% 36.1% 36.0% 50.7% 58.3% 61.0%
Domestic 27.7% 25.9% 25.0% 23.4% 24.2% 23.6% 23.9% 34.7% 40.6% 42.7%
External 14.5% 13.0% 13.3% 12.8% 12.0% 12.4% 12.1% 16.1% 17.7% 18.3%
% of GDP
Total NG Debt 47.1% 43.4% 42.7% 40.2% 40.2% 39.9% 39.6% 54.6% 60.4% 63.5%
Domestic 31.0% 28.9% 27.9% 26.0% 26.8% 26.2% 26.3% 37.3% 42.1% 44.4%
External 16.2% 14.5% 14.8% 14.2% 13.4% 13.8% 13.3% 17.3% 18.3% 19.1%
BY TYPE OF CURRENCY 5,681,153 5,735,242 5,954,537 6,090,262 6,652,430 7,292,500 7,731,290 9,795,006 11,728,549 12,029,672 12,093,500 12,679,785 12,763,187
Peso Denominated (P Million) 3,834,578 3,921,634 3,990,484 4,038,891 4,545,960 4,880,256 5,231,878 6,800,356 8,149,273 8,346,311 8,391,203 8,845,559 8,911,864
Growth
Growthrate
rate(%)
(%) 7.8% 2.3% 1.8% 1.2% 12.6% 7.4% 7.2% 30.0% 19.8% 2.4% 0.5% 5.4% 0.7%
Foreign Currency Denominated (P Million) 1,846,575 1,813,608 1,964,053 2,051,371 2,106,470 2,412,244 2,499,412 2,994,650 3,579,276 3,683,361 3,702,297 3,834,226 3,851,323
Growth
Growthrate
rate(%)
(%) -1.8% -1.8% 8.3% 4.4% 2.7% 14.5% 3.6% 19.8% 19.5% 2.9% 0.5% 3.6% 0.4%
(US$ Million) 41,542 40,573 41,656 41,218 42,165 45,893 49,199 62,362 70,218 72,032 72,050 73,869 73,589
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Local 67.5% 68.4% 67.0% 66.3% 68.3% 66.9% 67.7% 69.4% 69.5% 69.4% 69.4% 69.8% 69.8%
Foreign 32.5% 31.6% 33.0% 33.7% 31.7% 33.1% 32.3% 30.6% 30.5% 30.6% 30.6% 30.2% 30.2%
BY TYPE OF INSTRUMENT 5,681,153 5,735,242 5,954,537 6,090,262 6,652,430 7,292,500 7,731,290 9,795,006 11,728,549 12,029,672 12,093,500 12,679,785 12,763,187
Loans 700,450 683,813 768,108 814,946 848,058 948,209 980,479 1,312,836 1,574,402 1,974,110 1,984,293 1,987,086 1,975,404
Debt Securities 4,980,703 5,051,429 5,186,429 5,275,316 5,804,372 6,344,291 6,750,811 8,482,170 10,154,147 10,055,562 10,109,207 10,692,699 10,787,783
BY MATURITY **
Amount in pesos 5,681,153 5,735,242 5,954,537 6,090,262 6,652,430 7,292,500 7,731,290 9,795,006 11,728,549 11,729,672 11,793,500 12,379,785 12,463,187 ***
Short-term 320,916 281,738 264,435 287,936 314,369 494,306 491,131 956,040 796,143 744,568 719,568 656,601 622,601 ***
Medium-term 447,932 392,356 399,442 352,163 797,547 980,936 1,374,313 2,251,787 3,123,592 3,054,752 3,090,604 3,585,446 3,649,890
Long-term 4,912,305 5,061,148 5,290,660 5,450,163 5,540,514 5,817,258 5,865,846 6,587,179 7,808,814 7,930,352 7,983,328 8,137,738 8,190,696
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Short-term 5.6% 4.9% 4.4% 4.7% 4.7% 6.8% 6.4% 9.8% 6.8% 6.3% 6.1% 5.3% 5.0%
Medium-term 7.9% 6.8% 6.7% 5.8% 12.0% 13.5% 17.8% 23.0% 26.6% 26.0% 26.2% 29.0% 29.3%
Long-term 86.5% 88.2% 88.9% 89.5% 83.3% 79.8% 75.9% 67.3% 66.6% 67.6% 67.7% 65.7% 65.7%
DOMESTIC DEBT (P Million)
By Maturity 3,733,422 3,820,603 3,884,380 3,934,097 4,441,260 4,776,859 5,127,600 6,694,687 8,170,414 8,067,788 8,113,204 8,568,651 8,635,854 ***
Short-term 320,916 281,738 264,435 287,936 314,369 494,306 491,131 956,040 796,143 744,568 719,568 656,601 622,601 ***
Medium-term 447,932 392,356 399,442 352,163 797,548 915,457 1,268,415 2,059,390 2,928,831 2,860,156 2,895,435 3,366,589 3,414,885
Long-term 2,964,574 3,146,509 3,220,503 3,293,998 3,329,343 3,367,096 3,368,054 3,679,257 4,445,440 4,463,064 4,498,201 4,545,461 4,598,368
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Short-term 8.6% 7.4% 6.8% 7.3% 7.1% 10.3% 9.6% 14.3% 9.7% 9.2% 8.9% 7.7% 7.2%
Medium-term 12.0% 10.3% 10.3% 9.0% 18.0% 19.2% 24.7% 30.8% 35.8% 35.5% 35.7% 39.3% 39.5%
Long-term 79.4% 82.4% 82.9% 83.7% 75.0% 70.5% 65.7% 55.0% 54.4% 55.3% 55.4% 53.0% 53.2%
By Type of Borrowing 3,733,422 3,820,603 3,884,380 3,934,097 4,441,260 4,776,859 5,127,600 6,694,687 8,170,414 8,367,788 8,413,204 8,868,651 8,935,854
Treasury Bills a/ 320,916 281,738 264,435 287,936 314,369 494,306 486,170 949,479 796,143 744,568 719,568 656,601 622,601
Treasury Bonds/Notes a/ 3,411,908 3,538,267 3,619,347 3,645,563 4,125,943 4,281,605 4,640,482 5,744,260 7,374,115 7,323,064 7,393,480 7,911,894 8,013,097
Loans 598 598 598 598 948 948 948 948 156 300,156 300,156 300,156 300,156
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Treasury Bills 8.6% 7.4% 6.8% 7.3% 7.1% 10.3% 9.5% 14.2% 9.7% 8.9% 8.6% 7.4% 7.0%
Treasury Bonds 91.4% 92.6% 93.2% 92.7% 92.9% 89.6% 90.5% 85.8% 90.3% 87.5% 87.9% 89.2% 89.7%
Loans 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.6% 3.6% 3.4% 3.4%
By Type of Liability 3,733,422 3,820,603 3,884,380 3,934,097 4,441,260 4,776,859 5,127,600 6,694,687 8,170,414 8,367,788 8,413,204 8,868,651 8,935,854
Loans 598 598 598 598 948 948 948 948 156 300,156 300,156 300,156 300,156
Direct Liabilities 156 156 156 156 156 156 156 156 156 300,156 300,156 300,156 300,156
Assumed Liabilities b/ 442 442 442 442 792 792 792 792 0 0 0 0 0
Debt Securities 3,732,824 3,820,005 3,883,782 3,933,499 4,440,312 4,775,911 5,126,652 6,693,739 8,170,258 8,067,632 8,113,048 8,568,495 8,635,698
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Loans 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.6% 3.6% 3.4% 3.4%
Debt Securities 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 96.4% 96.4% 96.6% 96.6%
 DEBT INDICATORS
CY 2022
Particulars CY 2013 CY 2014 CY 2015 CY 2016 CY 2017 CY 2018 CY 2019 CY 2020 CY 2021
Jan Feb Mar Apr

EXTERNAL DEBT
By Maturity ($ Million) 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
Medium-term 0 0 0 0 0 1,246 2,085 4,007 3,821 3,806 3,798 4,216 4,490
Long-term 43,818 42,833 43,906 43,324 44,261 46,614 49,167 60,555 65,982 67,806 67,824 69,208 68,641
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Medium-term 0.0% 0.0% 0.0% 0.0% 0.0% 2.6% 4.1% 6.2% 5.5% 5.3% 5.3% 5.7% 6.1%
Long-term 100.0% 100.0% 100.0% 100.0% 100.0% 97.4% 95.9% 93.8% 94.5% 94.7% 94.7% 94.3% 93.9%
By Creditor Type ($ Million) 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
Multilateral 8,037 8,627 9,867 10,182 10,709 11,726 12,793 19,275 22,574 24,353 24,397 24,506 24,433
Bilateral 7,672 6,635 6,396 6,170 6,238 6,289 6,484 8,042 8,308 8,382 8,377 7,993 7,576
Commercial 28,109 27,571 27,643 26,972 27,314 29,845 31,975 37,245 38,921 38,877 38,848 40,925 41,122
o.w. Loans 35 22 15 11 10 7 5 2 1 1 1 1 1
External Debt Securities 28,074 27,549 27,628 26,961 27,304 29,838 31,970 37,243 38,920 38,876 38,847 40,924 41,121
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Multilateral 18.3% 20.1% 22.5% 23.5% 24.2% 24.5% 25.0% 29.9% 32.3% 34.0% 34.1% 33.4% 33.4%
Bilateral 17.5% 15.6% 14.6% 14.2% 14.1% 13.1% 12.7% 12.5% 11.9% 11.7% 11.7% 10.9% 10.4%
Commercial 64.1% 64.3% 63.0% 62.3% 61.7% 62.4% 62.4% 57.7% 55.8% 54.3% 54.2% 55.7% 56.2%
By Type of Issuance 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
Loans 15,744 15,284 16,278 16,363 16,957 18,022 19,282 27,319 30,883 32,736 32,775 32,500 32,010
US Dollar Bonds/Notes 23,517 23,208 23,498 23,505 23,817 24,842 24,823 29,161 30,553 30,553 30,553 32,803 32,803
Eurobonds 685 609 549 0 0 0 841 2,387 4,609 4,566 4,545 4,483 4,273
Yen Bonds 955 831 831 850 891 2,316 3,184 2,388 1,687 1,691 1,687 1,595 2,033
Chinese Yuan Bonds 0 0 0 0 0 212 569 607 392 393 396 394 377
Peso Global Bonds 2,917 2,901 2,750 2,606 2,596 2,467 2,553 2,700 1,679 1,673 1,665 1,649 1,635
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Loans 35.9% 35.7% 37.1% 37.8% 38.3% 37.7% 37.6% 42.3% 44.2% 45.7% 45.8% 44.3% 43.8%
US DollarBonds/Notes 53.7% 54.2% 53.5% 54.3% 53.8% 51.9% 48.4% 45.2% 43.8% 42.7% 42.7% 44.7% 44.9%
Eurobonds 1.6% 1.4% 1.3% 0.0% 0.0% 0.0% 1.6% 3.7% 6.6% 6.4% 6.3% 6.1% 5.8%
Yen Bonds 2.2% 1.9% 1.9% 2.0% 2.0% 4.8% 6.2% 3.7% 2.4% 2.4% 2.4% 2.2% 2.8%
Chinese Yuan Bonds 0.0% 0.0% 0.0% 0.0% 0.0% 0.4% 1.1% 0.9% 0.6% 0.5% 0.6% 0.5% 0.5%
Peso Denominated Bonds 6.7% 6.8% 6.3% 6.0% 5.9% 5.2% 5.0% 4.2% 2.4% 2.3% 2.3% 2.2% 2.2%
By Type of Currency 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
US Dollar 30,928 31,347 32,994 33,401 34,310 36,448 37,555 47,660 52,593 54,382 54,434 56,805 56,793
Japanese Yen 7,504 6,331 6,229 6,055 6,098 7,538 8,638 8,914 8,156 8,237 8,227 7,780 7,848
Euro 1,400 1,331 1,147 594 645 685 1,468 4,207 6,545 6,483 6,454 6,359 6,057
PhP 2,917 2,901 2,750 2,606 2,596 2,467 2,553 2,700 1,679 1,673 1,665 1,649 1,635
Other currencies 1,069 923 786 668 612 721 1,038 1,081 830 837 842 831 798
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
US Dollar 70.6% 73.2% 75.1% 77.1% 77.5% 76.2% 73.3% 73.8% 75.3% 75.9% 76.0% 77.4% 77.7%
Japanese Yen 17.1% 14.8% 14.2% 14.0% 13.8% 15.8% 16.9% 13.8% 11.7% 11.5% 11.5% 10.6% 10.7%
Euro 3.2% 3.1% 2.6% 1.4% 1.5% 1.4% 2.9% 6.5% 9.4% 9.1% 9.0% 8.7% 8.3%
PhP 6.7% 6.8% 6.3% 6.0% 5.9% 5.2% 5.0% 4.2% 2.4% 2.3% 2.3% 2.2% 2.2%
Other currencies 2.4% 2.2% 1.8% 1.5% 1.4% 1.5% 2.0% 1.7% 1.2% 1.2% 1.2% 1.1% 1.1%
By Type of Liability ($ Million) 43,818 42,833 43,906 43,324 44,261 47,860 51,252 64,562 69,803 71,612 71,622 73,424 73,131
Loans 15,744 15,284 16,278 16,363 16,957 18,022 19,282 27,319 30,883 32,736 32,775 32,500 32,010
Direct Liablities 15,744 15,284 16,278 16,363 16,957 18,022 19,282 27,319 30,883 32,736 32,775 32,500 32,010
Assumed Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt Securities 28,074 27,549 27,628 26,961 27,304 29,838 31,970 37,243 38,920 38,876 38,847 40,924 41,121
By Type of Liability (P Million) 1,947,731 1,914,639 2,070,157 2,156,165 2,211,170 2,515,641 2,603,690 3,100,319 3,558,135 3,661,884 3,680,296 3,811,134 3,827,333
Loans 699,852 683,215 767,510 814,348 847,110 947,261 979,531 1,311,888 1,574,246 1,673,954 1,684,137 1,686,930 1,675,248
Direct Liablities 699,852 683,215 767,510 814,348 847,110 947,261 979,531 1,311,888 1,574,246 1,673,954 1,684,137 1,686,930 1,675,248
Assumed Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt Securities 1,247,879 1,231,424 1,302,647 1,341,817 1,364,060 1,568,380 1,624,159 1,788,431 1,983,889 1,987,930 1,996,159 2,124,204 2,152,085
% Distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Loans 35.9% 35.7% 37.1% 37.8% 38.3% 37.7% 37.6% 42.3% 44.2% 45.7% 45.8% 44.3% 43.8%
Debt Securities 64.1% 64.3% 62.9% 62.2% 61.7% 62.3% 62.4% 57.7% 55.8% 54.3% 54.2% 55.7% 56.2%

* Excludes contingent liabilities payable upon demand

** Original Maturity
*** Excludes short term borrowings from BSP in the form of P300Bn promissory note (provisional advances)

a/ Includes issuances to CB-BOL

b/ Assumed loans of DBP, NDC, PNB
c/ Includes P350 M restoration of NG assumed obligations under PNB

GNI 13,467,666 14,728,818 15,537,710 16,812,934 18,383,179 20,212,349 21,472,060 19,312,001 20,104,437 20,788,371
GDP 12,050,592 13,206,828 13,944,157 15,132,381 16,556,651 18,265,190 19,517,863 17,951,574 19,410,568 19,968,877
Forex Rate Used (P/US$) 44.450 44.700 47.150 49.769 49.958 52.563 50.802 48.021 50.974 51.135 51.385 51.906 52.335
 NG DEBT SERVICE
CY 2022
Particulars CY 2013 CY 2014 CY 2015 CY 2016 CY 2017 CY 2018 CY 2019 CY 2020 CY 2021 Total
Jan Feb Mar Q1 Apr

B. National Government Debt Service

TOTAL DEBT SERVICE (P Million) 698,522 755,547 797,259 789,965 680,467 725,589 842,449 962,466 1,204,157 215,838 30,423 67,389 313,650 42,975 356,625
Domestic 479,817 525,480 578,728 517,301 439,868 508,281 594,773 719,457 870,873 189,161 25,841 51,644 266,646 29,856 296,502
External 218,705 230,067 218,531 272,664 240,599 217,308 247,676 243,009 333,284 26,677 4,582 15,745 47,004 13,119 60,123
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Domestic 68.7% 69.5% 72.6% 65.5% 64.6% 70.1% 70.6% 74.8% 72.3% 87.6% 84.9% 76.6% 85.0% 69.5% 83.1%
External 31.3% 30.5% 27.4% 34.5% 35.4% 29.9% 29.4% 25.2% 27.7% 12.4% 15.1% 23.4% 15.0% 30.5% 16.9%
Total Debt Service 698,522 755,547 797,259 789,965 680,467 725,589 842,449 962,466 1,204,157 215,838 30,423 67,389 313,650 42,975 356,625
Interest Payments 323,434 321,185 309,364 304,454 310,541 349,215 360,874 380,412 429,432 65,551 28,230 55,548 149,329 37,303 186,632
Principal Payments 375,088 434,362 487,895 485,511 369,926 376,374 481,575 582,054 774,725 150,287 2,193 11,841 164,321 5,672 169,993
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Principal Payments 53.7% 57.5% 61.2% 61.5% 54.4% 51.9% 57.2% 60.5% 64.3% 69.6% 7.2% 17.6% 52.4% 13.2% 47.7%
Interest Payments 46.3% 42.5% 38.8% 38.5% 45.6% 48.1% 42.8% 39.5% 35.7% 30.4% 92.8% 82.4% 47.6% 86.8% 52.3%
As % of NG Expenditures+Principal
Total Debt Service 31.0% 31.3% 29.3% 26.0% 21.3% 19.2% 19.7% 20.0% 22.1% 47.8% 9.5% 13.7% 24.8% 12.3% 22.1%
Domestic 21.3% 21.8% 21.3% 17.0% 13.8% 13.4% 13.9% 15.0% 16.0% 41.9% 8.1% 10.5% 21.1% 8.6% 18.4%
External 9.7% 9.5% 8.0% 9.0% 7.5% 5.7% 5.8% 5.1% 6.1% 5.9% 1.4% 3.2% 3.7% 3.8% 3.7%
As % of NG Revenues
Total Debt Service 40.7% 39.6% 37.8% 36.0% 27.5% 25.5% 26.9% 33.7% 40.1% 77.6% 14.3% 22.9% 40.0% 12.4% 31.5%
Domestic 28.0% 27.5% 27.4% 23.6% 17.8% 17.8% 19.0% 25.2% 29.0% 68.0% 12.2% 17.6% 34.0% 8.6% 26.2%
External 12.7% 12.1% 10.4% 12.4% 9.7% 7.6% 7.9% 8.5% 11.1% 9.6% 2.2% 5.4% 6.0% 3.8% 5.3%
As % of GDP
Total Debt Service 5.8% 5.7% 5.7% 5.2% 4.1% 4.0% 4.3% 5.4% 6.2% 6.4%
Domestic 4.0% 4.0% 4.2% 3.4% 2.7% 2.8% 3.0% 4.0% 4.5% 5.4%
External 1.8% 1.7% 1.6% 1.8% 1.5% 1.2% 1.3% 1.4% 1.7% 1.0%
Total Interest Payments 323,434 321,185 309,364 304,454 310,541 349,215 360,874 380,412 429,432 65,551 28,230 55,548 149,329 37,303 186,632
Domestic 222,317 220,495 215,589 205,426 210,476 243,232 250,298 279,056 333,335 40,792 25,507 47,332 113,631 29,856 143,487
External 101,117 100,690 93,775 99,028 100,065
0 105,983 110,576
0 101,356 96,097 24,759 2,723 8,216 35,698 7,447 43,145
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Domestic 68.7% 68.7% 69.7% 67.5% 67.8% 69.7% 69.4% 73.4% 77.6% 62.2% 90.4% 85.2% 76.1% 80.0% 76.9%
External 31.3% 31.3% 30.3% 32.5% 32.2% 30.3% 30.6% 26.6% 22.4% 37.8% 9.6% 14.8% 23.9% 20.0% 23.1%
As % of GDP
Total Interest Payments 2.7% 2.4% 2.2% 2.0% 1.9% 1.9% 1.9% 2.1% 2.2% 3.0%
Domestic
Domestic 1.8% 1.7% 1.5% 1.4% 1.3% 1.3% 1.3% 1.6% 1.7% 2.3%
External
External 0.8% 0.8% 0.7% 0.7% 0.6% 0.6% 0.6% 0.6% 0.5% 0.7%
As % of NG Expenditures
Total Interest Payments 17.2% 16.2% 13.9% 11.9% 11.0% 10.2% 9.5% 9.0% 9.2% 21.7% 8.9% 11.5% 13.6% 10.9% 12.9%
Domestic 11.8% 11.1% 9.7% 8.1% 7.5% 7.1% 6.6% 6.6% 7.1% 13.5% 8.0% 9.8% 10.3% 8.7% 9.9%
External 5.4% 5.1% 4.2% 3.9% 3.5% 3.1% 2.9% 2.4% 2.1% 8.2% 0.9% 1.7% 3.2% 2.2% 3.0%
As % of NG Revenues
Total Interest Payments 18.8% 16.8% 14.7% 13.9% 12.6% 12.3% 11.5% 13.3% 14.3% 23.6% 13.3% 18.9% 19.0% 10.7% 16.5%
Domestic 13.0% 11.6% 10.2% 9.4% 8.5% 8.5% 8.0% 9.8% 11.1% 14.7% 12.0% 16.1% 14.5% 8.6% 12.7%
External 5.9% 5.3% 4.4% 4.5% 4.0% 3.7% 3.5% 3.5% 3.2% 8.9% 1.3% 2.8% 4.6% 2.1% 3.8%
Total Principal Payments 375,088 434,362 487,895 485,511 369,926 376,374 481,575 582,054 774,725 150,287 2,193 11,841 164,321 5,672 169,993
Domestic 1/ 257,500 304,985 363,139 311,875 229,392 265,049 344,475 440,401 537,538 148,369 334 4,312 153,015 0 153,015
External 2/ 117,588 129,377 124,756 173,636 140,534 111,325 137,100
0 141,653 237,187 1,918 1,859 7,529 11,306 5,672 16,978
% distribution 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Domestic 68.7% 70.2% 74.4% 64.2% 62.0% 70.4% 71.5% 75.7% 69.4% 98.7% 15.2% 36.4% 93.1% 0.0% 90.0%
External 31.3% 29.8% 25.6% 35.8% 38.0% 29.6% 28.5% 24.3% 30.6% 1.3% 84.8% 63.6% 6.9% 100.0% 10.0%

Forex Rate Used (P/US$) 44.450 44.700 47.150 49.769 49.958 52.563 50.802 48.021 50.974 51.135 51.385 51.906 52.335
NG Expenditures 1,880,155 1,981,619 2,230,645 2,549,336 2,823,769 3,408,443 3,797,734 4,227,406 4,675,639 301,457 318,202 481,549 1,101,208 343,013 1,444,221
NG Revenues 1,716,093 1,908,527 2,108,956 2,195,914 2,473,132 2,850,184 3,137,498 2,855,959 3,005,539 278,075 212,402 293,883 784,360 347,949 1,132,309
GDP 12,050,592 13,206,828 13,944,157 15,132,381 16,556,651 18,265,190 19,517,863 17,951,574 19,410,568 4,930,387

Note:
1/ Actual redemption from Bond Sinking Fund, A/R Bonds redemption, Domestic Bond Exchange
2/ Includes Bond Exchange

Prepared by: Statistical Data Analysis Div., Bureau of the Treasury

 National Government Outstanding Guaranteed Debt *
As of the Period Indicated
(In Million Pesos)
CY 2022
Particulars CY 2013 CY 2014 CY 2015 CY 2016 CY 2017 CY 2018 CY 2019 CY 2020 CY 2021
Jan Feb Mar Apr

TOTAL 597,826 551,072 545,092 513,673 478,113 487,586 488,746 458,348 423,917 422,516 416,204 411,044 413,428

Domestic 258,448 242,937 245,572 233,369 197,517 197,537 260,764 254,423 195,075 192,957 188,890 188,135 194,292

NG Direct Guarantee 258,312 242,801 245,436 233,233 197,381 197,401 260,628 254,287 194,939 192,821 188,754 187,999 194,156
Assumed GFI Guarantee 136 136 136 136 136 136 136 136 136 136 136 136 136

External 339,378 308,135 299,520 280,304 280,596 290,049 227,982 203,925 228,842 229,559 227,314 222,909 219,136

NG Direct Guarantee 335,571 304,310 295,489 276,049 276,322 285,553 223,637 199,816 224,482 225,185 222,919 218,470 214,661
Assumed GFI Guarantee 3,807 3,825 4,031 4,255 4,274 4,496 4,345 4,109 4,360 4,374 4,395 4,439 4,475

% of GDP
Total Guaranteed Debt 5.0% 4.2% 3.9% 3.4% 2.9% 2.7% 2.5% 2.6% 2.2% 2.1%
Domestic 2.1% 1.8% 1.8% 1.5% 1.2% 1.1% 1.3% 1.4% 1.0% 0.9%
External 2.8% 2.3% 2.1% 1.9% 1.7% 1.6% 1.2% 1.1% 1.2% 1.1%

* Includes NG direct guarantee and NG assumed GFI guarantee only. Excludes obligations arising from BOTs,
IPPs and equivalent projects

Prepared by: SDAD, Bureau of the Treasury

 NG OUTSTANDING DEBT
14000 0.7
12000 0.6

In Billion Pesos
10000 0.5
8000 0.4
6000 0.3
4000 0.2
2000 0.1
0 0 Domestic
Apr
2014 2015 2016 2017 2018 2019 2020 2021 External
2022
Total
Domestic 3,820 3,884 3,934 4,441 4,777 5,128 6,695 8,170 8,936
External 1,915 2,070 2,156 2,211 2,516 2,604 3,100 3,558 3,827 % of GDP
Total 5,735 5,954 6,090 6,652 7,293 7,732 9,795 11,728 12,763
% of GDP 43.4% 42.7% 40.2% 40.2% 39.9% 39.6% 54.6% 60.4%

% Distribution of NG Debt
as of April 2022
Domestic
External

External 30.0%

Domestic 70.0%

% Distribution of NG Debt by Maturity

as of April 2022
Medium Term
29.3% Short Term
Medium Term
Long Term

Short Term
5.0%
 % Distribution of NG Debt by Currency
as of April 2022
Local
Foreign

Local
69.8%
Foreign 30.2%

% Distribution of External Debt by Creditor

as of April 2022
Multilateral
Bilateral
Commercial

Commercial Multilateral
56.2% 33.4%

Bilateral
10.4%

% Distribution of External Debt by Currency

as of April 2022

JPY
10.7%
USD
77.7%
Euro USD
8.3% JPY
Euro
PhP
PhP Other Currencies
2.2%
Other Currencies
1.1%