Gov’t settled P658B in debts in Jan.-Nov.
By Ronnel W. DomingoThe government spent P658 billion in the 11 months to November 2012 to pay debts, according to the Bureau of Treasury (BTr).
The government spent P658 billion in the 11 months to November 2012 to pay debts, according to the Bureau of Treasury (BTr).
The government spent P511.1 billion in the eight months to August to pay off debt, 3 percent less than the P525.1 billion settled in the same period last year, according to the Bureau of Treasury.
The government expects a slight decrease in its debt servicing requirement next year amid debt-consolidation efforts and falling principal payments, according to Budget Secretary Florencio B. Abad.
The government spent P597.5 billion in the nine months to September to pay its debt. The amount was 2 percent lower than the P607.3 billion settled in the same period last year, according to the Bureau of the Treasury. The slight decrease in debt servicing during the period was observed as Malacañang continued to focus [...]
MANILA, Philippines—The country’s ability to service its obligations to foreign creditors and bond holders improved further in May, as income from export and offshore services grew, while its maturing external obligations fell. Monetary officials said the decline in maturing obligations to foreigners could be credited partly to declining interest rates, which reflected creditors’ and investors’ [...]
MALACAÑANG WANTS to reduce debt payments to P367 billion in 2012, or 1.3 percent lower than the planned P372 billion this year, to sustain efforts in consolidating its finances, mainly by lengthening the average maturity of obligations. Budget Secretary Florencio B. Abad said that compared to the total national budget, debt servicing funds will decrease [...]
