The national government’s gross borrowings in January to November 2021 declined by 8.94 percent, as both external and domestic financing went down from the year- ago level, 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 the first 11 months last year totaled to P2.78 trillion, down versus the P3.05 trillion raised the prior year.
Gross domestic borrowings as of end-November 2021 accounted for the bigger chunk amounting to P2.25 trillion, 8.83 percent lower than the year ago level of P2.46 trillion.
Of the said amount, P80.84 billion was accounted for by retail onshore dollar bonds in October, while P463.32 billion came from the retail treasury bonds issued in March.
The data also showed that P540 billion was accounted for by the reavailment of the short-term loan facility from the Bangko Sentral ng Pilipinas in January.
Also, P1.26 trillion of the domestic borrowings in January to November was in the form of fixed-rate treasury bonds, while a net redemption of P97.33 billion was recorded in treasury bills.
Meanwhile, the BTr data showed that gross external borrowings for the period declined 9.39 percent to P528.81 billion from P583.64 billion the prior year.
Project loans totaled to P96.5 billion while P139.98 billion was from program loans.
The Philippine government also raised P121.97 billion from euro bonds and P24.19 billion from its samurai bonds issuances, both in April.
Global bonds in July accounted for the remaining P146.17 billion.
In November alone, total gross borrowings amounted to P26.7 billion, down by 78.48 percent from the P124.04 billion recorded in the same period the previous year.
Of the said amount, P16.6 billion was from local lenders while P10.1 billion was from offshore financing.
