The government’s financing position in the nine months to September showed a net borrowing of P9.7 billion, or just 3 percent of the P309.5 billion recorded in the year-ago period, according to the Bureau of the Treasury.
Continually smaller borrowings were observed as Malacañang kept reporting savings in interest payments, which it attributed to its efforts in consolidating its finances and managing its debts as well as improved credit standing.
In the nine-month period, the government incurred a total of P384.8 billion in new borrowings, just about two-fifths of the P672.2 billion borrowed in the year-ago period.
Treasury documents showed that the biggest contributors to debts during those nine months were the issuance of global bonds worth a total of P119.7 billion as well as local bonds totaling P286 billion.
The government floated P54.77 billion in global bonds in January and P64.91 billion in March. However, the Treasury also reported a net redemption of bills amounting to P197.7 billion.
Overseas development assistance reached P41.8 billion, including P17.5 billion for projects and P24.3 billion for programs. Total ODA was 15-percent less than the P49.5 billion reported in the same period last year, which covered P18.6 billion for project loans and P30.9 billion for program loans.
As of September, the government paid out P101.1 billion in foreign loans and P273.9 billion in domestic debts.
Total payment for the period was 3 percent more than the P362.7 billion paid out in the same period last year, which covered P110.6 billion for overseas obligations and P252.1 billion for local loans.
In September alone, the government’s financing position settled at a net payment of P5.7 billion, a reversal of a net borrowing of P34.7 billion posted in the same month last year.
In September, the government incurred P10.7 billion in new foreign loans and P30.1 billion in new domestic debt. The Treasury paid out P6.6 billion in foreign debts and P40 billion in domestic loans.