The national government’s gross borrowings in January to October rose by 22.98 percent year-on-year as both foreign and domestic financing registered double-digit increases.
According to the latest cash operations report posted on the Bureau of the Treasury’s (BTr) website, the government’s gross borrowings in the first 10 months of the year went up to P2.43 trillion from the P1.98 trillion recorded a year ago.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P1.86 trillion, up 22.64 percent from the year ago level of P1.52 trillion.
Of the said amount, P1.07 trillion is in fixed rate treasury bonds, while P209.38 billion was accounted for by treasury bills.
Also, P584.86 billion was raised in February through the retail treasury bonds offer.
Meanwhile, the BTr data showed that gross external borrowings for the period went up by 24.09 percent to P566.25 billion from P456.31 billion a year ago.
Project loans totaled to P86.97 billion while P223.04 billion was from program loans.
The government also raised P115.25 billion from its dual-tranche global dollar bond offering in May as well as P140.99 billion in September from its second dollar-denominated global bond offer.
For the month alone, the government recorded gross financing of P129.26 billion, 42.6 percent down from the year ago level of P225.2 billion.
Gross domestic borrowings amounted to P67.46 billion while foreign borrowings stood at P61.8 billion.
The BTr earlier reported that the national government posted a P6.3 billion fiscal surplus in October as the growth in revenues significantly outpaced that of expenditures.
The surplus in October is a reversal of the P34.4 billion deficit recorded a year ago.
Revenue collections accelerated in October with double-digit growth of 22.63 percent, outpacing the 11.08 percent year-on-year increase in expenditures.
Thus, the year-to-date deficit narrowed to P963.9 billion, which stands at only 64.94 percent of the P1.48 trillion full-year program.
