Gov’t gross borrowings up 22% as of end-July

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The national government’s gross borrowings in the first seven months of the year rose by 22.24 percent amid higher domestic borrowings versus 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 January to July totaled to P2.27 trillion, up versus the P1.86 trillion raised a year ago.

Gross domestic borrowings accounted for the bigger chunk amounting to P1.83 trillion, jumping by 32.85 percent from the year ago level of P1.38 trillion.
Of the said amount, P463.32 billion came from the retail treasury bonds issued in March.

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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, P779.86 billion of the domestic borrowings in January to July was in the form of fixed-rate treasury bonds, while P45.1 billion was from the issuance of treasury bills.

Meanwhile, the BTr data showed that gross external borrowings for the period declined 8.19 percent to P441.74 billion from P481.15 billion a year ago.

Project loans totaled to P54.33 billion while P95.08 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 meanwhile accounted for the remaining P146.17 billion.

In July alone, total gross borrowings amounted to P337.15 billion, posting an increase of 150.61 percent from the P134.53 billion recorded in the same period a year ago.

Of the said amount, P180.36 billion was from local lenders while P156.79 billion was from offshore financing. – Angela Celis

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