Gov’t reports P44.5B in net borrowingsBy Ronnel W. Domingo |Philippine Daily Inquirer
THE GOVERNMENT registered a net borrowing of P44.5 billion, or about four and a half times the P100.2 billion recorded a year ago, according to the Bureau of Treasury.
This was due to the continued rise in new borrowings, while debt payments were declining.
In the 10-month period, the government incurred P799.8 billion in fresh borrowings, up by 65 percent from P485 billion a year ago.
Debt payments, however, amounted to only P355.4 billion, 8 percent less than the P384.8 billion in the same period last year.
BTr data showed that the biggest contributor of new debt this year was the issuance of retail treasury bonds, the last was in October amounting to P188 billion which brought this year’s total to P367.8 billion.
The government also issued P66 billion worth of global bonds and P364.9 billion in regular domestic bonds.
The government floated P53.2 billion worth of five-year treasury bonds, P143.4 billion of seven-year bonds, P95.4 billion in 10-year bonds, P58.5 billion in 20-year bonds and P14.4 billion in 25-year bonds.
The Treasury reported a net redemption of T-bills worth P32.3 billion.
Further, overseas development assistance reached P33.4 billion, including P14.4 billion for projects and P19 billion for programs.