Government rose above P19.07 trillion in June for the first time, up by P518.98 billion from May, but the Bureau of Treasury on Thursday said this reflects '' the continued implementation of the government’s fiscal agenda and financing program while maintaining a resilient debt portfolio.''

The P518.98 billion ( a 2.8 percent) increase from the end-May level of P18.55 trillion was driven by the net availment of both domestic and external borrowings to fund national development.

The favorable movement of the peso tempered the increase, it added.

The national government continues to implement a borrowing mix in favor of domestic sources to reduce exposure to foreign exchange risks and support a more stable debt profile.

Of the total debt stock, domestic debt accounted for 67.33 percent, while external obligations comprised the remaining 32.67 percent.

Domestic debt increased to P12.84 trillion, higher by P342.33 billion (2.74 percent) from the previous month’s level of P12.50 trillion. This is behind the P342.93 billion net issuance of government securities and a P0.60 billion downward adjustment of onshore dollar bonds valuation brought about by the stronger peso.

Relative to the end-December 2025 level of P12.17 trillion, domestic debt has increased by P721.59 billion (5.96 percent).

External debt stood at P6.23 trillion, up by P176.66 billion (2.92 percent) from the end-May level of P6.05 trillion. This is mainly due to the net availment of external loans amounting to P223.11 billion. PHS-Bureau of Treasury