MANILA, Sept. 26 (Xinhua) -- The Philippine debt increased by 4.3 percent year-on-year to 4.889 trillion pesos (102.28 billion U.S. dollars) for the first semester of this year due to largely on domestic borrowings, the Department of Finance (DOF) said Monday.
Nearly two-thirds of the total debt came from local borrowings, while funds sources from overseas lenders reached 2.052 trillion pesos (42.93 billion U.S. dollars).
The general government's debt consists of the outstanding obligation of the national government, the Central Bank Board of Liquidators, social security institutions and the local government units (LGUs) minus that held by the Bond Sinking Fund (BSF).
The DOF said the ratio of outstanding debt to gross domestic product fell to 35.4 percent by end-June this year, a slight improvement compared to 36.1 percent in the same period last year and 35.8 percent in the first-quarter.
