The national government’s total debt payments in the first two months of 2023 jumped 71.99 percent as amortization significantly rose from the previous year’s level, data released by the Bureau of the Treasury (BTr) showed.
According to the latest cash operations report, the national government’s debt payments in January to February stood at P423.55 billion, much higher than the P246.26 billion recorded during the same period a year ago.
Amortization rose by 124.59 percent to P342.47 billion from the P152.48 billion paid out in January to February 2022.
Of the total principal payments made during the period, P303.46 billion was used to pay local lenders while P39 billion was spent to settle foreign obligations.
On the other hand, interest payments as of February totaled to P81.08 billion, 13.54 percent down from the P93.78 billion paid out as of the same period the previous year.
Of the said amount, P48.57 billion was paid to domestic creditors while P32.51 billion was for international debt.
In February alone, debt payments amounted to P375.41 billion, recording a significant increase from the P30.42 billion in the same period in 2022.
Amortization amounted to P341.61 billion while interest payments totaled to P34.11 billion.
