The government’s financing position in the 11 months to November showed a net borrowing of P99.7 billion, 70 percent lower than the P336.5 billion recorded in the year-ago period, according to the Bureau of the Treasury (BTr).
In the 11-month period, the government incurred a total of P501.5 billion in new borrowings, 31 percent less than the P721.9 billion borrowed in the year-ago period.
At the same time, the government paid a total of P401.8 billion, 4 percent more than P385.4 billion it settled last year.
BTr data also showed that the biggest contributors to debts in the 11 months were the issuance of domestic bonds worth a total of P566.2 billion as well as global bonds totaling P120.2 billion.
The government floated P321.2 billion in regular Treasury bonds plus P31 billion from a bond swap, as well as P214.1 billion in retail T-bonds.
On the other hand, the Treasury also reported a net redemption of T-bills at P231.9 billion.
Further, overseas development assistance (ODA) reached P46.9 billion, including P21.7 billion for projects and P25.2 billion for programs.
Total ODA was 12 percent less than the P53.3 billion reported in the same period last year, which covered P22.4 billion for project loans and P30.9 billion for program loans.
As of November, the government paid out a total of P401.9 billion, including P110.2 billion in foreign loans and P291.7 billion in domestic debts.
Total payment for the period was 4 percent more than the P385.4 billion paid out in the same period last year, which covered P117.9 billion for overseas obligations and P267.5 billion for local loans.
In November alone, the government’s financing position settled at a net payment of P532 million, a turnaround from a net borrowing of P9.7 billion posted in the same month last year.
Last month, the government incurred P1.7 billion in new foreign loans and P14.8 billion in new domestic debt.
At the same time, the Treasury paid out P6.2 billion in foreign debts and P10.8 billion in domestic loans.