The national government’s gross borrowings rose 8 percent year-on-year to P717.4 billion at the end of the first 10 months as the increase in foreign financing offset the decline from domestic sources.
The latest Bureau of the Treasury data showed that the end-October borrowings were bigger than the P661.8 billion incurred during the same 10-month period last year.
Gross borrowings from local sources amounted to P431.3 billion from January to October, accounting for the bulk or three-fifths of the 10-month total.
Net treasury bills reached P147.4 billion; retail treasury bonds (RTBs), P121.8 billion, and fixed-rate treasury bonds, P162.2 billion.
End-October domestic borrowings declined from P499.6 billion a year ago.
However, external financing as of October rose to P286.1 billion from P162.2 billion last year.
From multilateral lenders, project loans amounted to P27.6 billion on top of P69.8 billion in program loans.
The government also issued debt paper in offshore markets during the 10-month period—P12 billion in renminbi-denominated panda bonds, P74 billion in yen-denominated samurai bonds as well as P102.7 billion in dollar-denominated global bonds.