The national government’s gross borrowings as of end-October reached P2.05 trillion, data released by the Bureau of the Treasury (BTr) showed.
According to the latest cash operations report posted on the BTr website, the government’s gross borrowings in January to October declined by 25.42 percent versus the year ago level of P2.75 trillion.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P1.58 trillion, down 29.22 percent from the year ago level of P2.23 trillion.
Of the said amount, P1.04 trillion is in fixed rate treasury bonds, while P878.25 billion was accounted for by retail treasury bonds.
Meanwhile, a net redemption of P338.44 billion was recorded in treasury bills.
The BTr data also showed that gross external borrowings for the period declined by 9.07 percent to P471.66 billion from P518.71 billion a year ago.
Project loans totaled to P72.24 billion while P136.6 billion was from program loans.
The Philippine government also raised P234.26 billion from its global bond issuances and P28.55 billion from Samurai bonds.
In October alone, the government recorded gross financing of P182.43 billion, 25.14 percent up from the P145.78 billion recorded a year ago.
Gross domestic borrowings rose to P56.73 billion from the P133.73 billion posted in the same period in 2021.
Foreign borrowings also jumped to P125.7 billion from P12.05 billion in October last year.
The BTr earlier reported that the national government’s budget deficit rose to P99.1 billion in October 2022, 54.08 percent higher compared to P64.3 billion for the same period last year.
The higher deficit for the period resulted from the 22.23 percent year-over-year acceleration in government spending, outpacing revenue growth of 14.14 percent.
However, the P1.1 trillion year-to-date budget deficit lagged behind the P1.2 trillion shortfall posted in the 10-month period a year ago by 7.61 percent and is just 67 percent of the P1.7 trillion full-year program.
