Govt borrowings down in June – BTr
Credit to Author: MAYVELIN U. CARABALLO, TMT| Date: Wed, 21 Aug 2019 16:25:17 +0000
Borrowings made by the national government dropped to P53.70 billion in June as it borrowed less from domestic sources, according to the Bureau of the Treasury (BTr).
Data released by the bureau on Wednesday showed that the amount was a 66.4-percent decrease from P159.98 billion in the same month last year.
A reduction in borrowings means the debts the state needs to pay in the future would be smaller.
Domestic borrowings, which accounted for 73.2 percent of the total, slid by 74.5 percent to P39.34 billion from P154.58 billion a year ago.
The bulk was raised from the issuance of fixed-rate Treasury bonds, which amounted to P20 billion. The rest were sourced from Treasury bills.
External financing surged by 166.3 percent to P14.36 billion from P5.39 billion a year ago.
Program loans reached P10.34 billion, while project loans raised P4.02 billion.
Year-to-date, government borrowings rose by 82.4 percent to P840.83 billion from P460.82 billion in the same period in 2018.
Domestic borrowings increased by 101.7 percent to P615.36 billion from January to June, while external financing accelerated by 44.7 percent to P225.47 billion in the same period.
Outstanding debt stood at P7.868 trillion in June, compared with over P46.89 billion a month earlier because of net repayments of both domestic and foreign loans and foreign exchange fluctuations.
Last year, the government borrowed P897.55 billion to creditors, a 0.4-percent decrease from P901.67 billion in 2017.