MANILA, March 4 (Xinhua) -- The Philippines' debt increased to 16.31 trillion pesos (roughly 283 billion U.S. dollars) as of January 2025, 1.63 percent higher than the debt incurred in December 2024, the Philippines' Bureau of Treasury said on Tuesday.

The month-on-month rise in debt stock was due to the net incurrence of new domestic and external debt, as well as the impact of peso depreciation against the U.S. dollar from 57.847 pesos at the end of 2024 to 58.375 pesos at the end of January 2025, the bureau said.

According to the bureau, the January debt level remains manageable and aligned with the government's target to support economic development while ensuring fiscal sustainability.

The bureau said domestic debt accounted for 67.9 percent of the total debt stock, while the remaining 32.1 percent comprised external obligations.

The bureau said the country's external debt stood at 5.23 trillion pesos (about 90.79 billion dollars) in January, 2.1 percent higher than the previous month. Enditem

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