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Government debt rose to a fresh high of P15.69 trillion at the end of July, primarily driven by new issuance of government securities and project loans, albeit partially offset by stronger peso, the Bureau of the Treasury (BTr) said on Tuesday.

The BTr showed that total state obligations increased by P206.49 billion in July, up by 1.3 percent from the previous month.

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Compared with a year ago, the debt load went up by 10.1 percent, or an additional P1.45 trillion-debt in July.

The treasury department attributed the higher debt due to the increase in domestic debt brought by issuance of government securities and new government loans although the stronger peso provided some partial relief.

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