The national government’s total debt payments in the first quarter jumped 80.36 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 March stood at P565.72 billion, much higher than the P313.65 billion recorded during the same period a year ago.
Amortization rose by 157.87 percent to P423.74 billion from the P164.32 billion paid out in January to March 2022.
On the other hand, interest payments as of March totaled to P141.98 billion, 4.92 percent down from the P149.33 billion paid out as of the same period the previous year.
In March alone, debt payments amounted to P142.17 billion, recording a significant increase from P67.39 billion in the same period in 2022.
Amortization amounted to P81.27 billion posting a 586.4 percent jump from the P11.84 billion recorded a year ago.
Interest payments, meanwhile, totaled to P60.9 billion, also 9.64 percent up from the March 2022 level of P55.55 billion.
The Department of Budget and Management said interest payments went up for the month due to coupon payment for March 2022 issuance of retail treasury bonds, foreign exchange rate and secured overnight financing rate and coupon payments for global bonds and additional issuances of fixed rate treasury bonds.
The BTr also earlier reported that the national government’s gross borrowings in the first quarter of the year fell by 9.46 percent amid lower domestic financing.
The government’s total gross borrowings in January to March declined to P979.76 billion from the P1.08 trillion recorded a year ago.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P684.66 billion, down 19.37 percent from the year ago level of P849.12 billion.
Gross external borrowings for the period jumped to P295.1 billion from P233.02 billion a year ago.
