The National Government's debt slightly decreased by 0.09% to P18.47 trillion by the end of April, a reduction primarily attributed to domestic debt repayments exceeding the impact of peso depreciation on external obligations. Despite this monthly dip, the overall debt has increased by 10.25% compared to April of the previous year. Domestic debt, constituting 67.22% of the total, saw a 0.95% reduction due to net redemptions outweighing new issuances, while external debt grew by 1.71% driven by the weaker peso. Guaranteed obligations also saw a modest increase. Projections indicate the NG's debt may reach P19.06 trillion by end-2026, with the debt-to-GDP ratio climbing to 65.2% in the first quarter, the highest since 2005.