Philippine government's September debt payments plunge 60.83% to ₱93.61 billion, despite record national debt.

The Philippine national government's debt payments for September 2024 fell by 60.83% to ₱93.61 billion, down from ₱239 billion in the same month last year. This decline was largely due to a sharp decrease in amortization payments, which fell by 88.21% to ₱19.76 billion. Interest payments increased slightly by 3.26% to ₱73.85 billion. For the first nine months of 2024, total debt payments reached ₱1.64 trillion, a 17.39% increase from the same period in 2023. Despite these fluctuations, the national debt reached a record high of ₱15.89 trillion by September 2024.

November 10, 2024
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