Gov’t borrowings rise, payments decline
Fresh public loans up 70% to P852.7B in 1st 11 months
The government’s financing position in the 11 months to November showed a net borrowing of P477 billion, or about five times the P99.7 billion registered in the same period last year, according to the Bureau of Treasury (BTr).
From January to November, the government borrowed more at a faster rate, while its payments declined, easing to a single-digit rate.
In the 11-month period, the government borrowed P852.7 billion—up by 70 percent year-on-year from P501.5 billion.
At the same time, the government settled P375.7 billion in obligations, which was 7 percent less than the P401.8 billion paid in the same period last year.
Treasury data showed that the issuance of P367.8 billion in retail treasury bonds, P66 billion in global bonds, and P391.1 billion in regular domestic bonds, accounted for the bulk of new government debt this year.
On the other hand, the Treasury reported a net redemption of T-bills worth P22.6 billion.
Also, overseas development assistance reached P50.3 billion, including P15.5 billion for projects and P34.8 billion for programs.
Total ODA was 7 percent more than the P46.9 billion reported in the same period last year.
As of November, the government paid a total of P375.7 billion, including P55 billion in foreign loans and P320.6 billion in domestic debt.
Total payment for the period was 7 percent less than the P401.8 billion paid in the same period last year. The payments covered P110.2 billion in overseas obligations and P291.6 billion in local loans.
In November alone, the government’s financing position settled at a net borrowing of P32.6 billion—a reversal from the net payment of P532 million reported in the same period last year.
Last month, the government incurred P16.9 billion in new foreign loans and P36 billion in new domestic debt.
At the same time, the Treasury paid P5.7 billion in foreign debt and P14.6 billion in domestic loans.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94