The National Government’s total outstanding debt amounted to P4.424 trillion as of October last year, P86 billion more compared to end-September’s P4.338 trillion.

Finance Secretary Margarito B. Teves said they want to cap total debt to P4.489 trillion for 2009, or 57.6 percent of gross domestic product (GDP). In 2008, debt stock was P4.221 trillion or 56.3 percent of GDP from P3.712 trillion or 55.8 percent of GDP in 2007.

Of total debt, Bureau of the Treasury (BTr) data show that P2.448 trillion is domestic loans and P1.975 trillion is the total foreign obligations.

Also as of October, the government’s total guaranteed debt is lower at P564.95 billion from September’s P579.26 billion. There are more guaranteed foreign loans amounting to P486.93 billion and about P78 billion is the guaranteed local loans.

BTr figures also show that P1.053 trillion of domestic debt is considered long-term debt; P756.3 billion has medium term maturity while P638.5 billion is short-term loans.