Gov’t borrowed more, paid less in first 4 months
The government’s finance position in the four months to April stood at a net borrowing of P162.4 billion—a reversal from the net payment of P30.73 billion reported in the same period last year, according to the Bureau of the Treasury (BTr).
The issuance of global dollar bonds in January, and of retail Treasury bonds in March, largely determined the state’s finances in the first four months of the year.
In the four-month period, the government borrowed a total of P347.59 billion—up by 60 percent year on year from P217.41 billion.
At the same time, government debt payments reached P185.19 billion—much less than the P248.14 billion reported in the same period last year.
BTr data showed that the biggest contributors to new debts during those months were RTBs worth P179.8 billion, global bonds amounting to P66 billion, and regular domestic bonds that fetched P121.36 billion.
The government floated P65.84 billion in seven-year T-bonds, P29.75 billion in 10-year T-bonds and P25.77 billion in 20-year T-bonds.
On the other hand, the Treasury also reported a net redemption of P37.28 billion in T-bills.
Also, overseas development assistance (ODA) reached P17.68 billion. The amount included P4.06 billion earmarked for projects, and P13.62 billion for programs.
Total ODA was more than twice the P8.62 billion reported in the same period last year.
As of April, the government paid out a total of P185.19 billion, including P18.83 billion in foreign loans and P166.36 billion in domestic debts.
Total payment for the period was 25 percent less than the P248.14 billion paid out in the same period last year, which covered P73.28 billion for overseas obligations and P174.86 billion for local loans.
In April alone, the government’s finance position settled at a net repayment of P68 million—a turnaround from the net borrowing of P33.29 billion registered in the same month last year.
Also in April, the government incurred P647 million in new foreign loans and P21.72 billion in new domestic debts.
At the same time, the Treasury settled P2.58 billion in foreign debts and P19.86 billion in domestic loans.
