The national government’s gross borrowings as of end-April rose by 7.89 percent, as domestic financing posted a double-digit increase year-on-year.
According to the Bureau of the Treasury (BTr), the government’s gross financing in the first four months of the year amounted to P1.16 trillion, higher than the P1.08 trillion recorded in the same period last year.
Domestic borrowings rose by 38.69 percent to P1.04 trillion as of end-April from the P749.11 billion recorded a year ago.
The government raised P76.82 billion in short-term IOUs in the first four months of 2024, while P377.26 billion was accounted for by fixed rate treasury bonds.
Also, P584.86 billion was raised in February through the retail treasury bonds offer.
On the other hand, foreign financing amounted to P124.1 billion, 62.27 percent lower than its year ago level of P328.88 billion.
The government was able to borrow from foreign sources in January to April through project and program loans, worth P28.66 billion and P95.44 billion, respectively.
In April alone, total gross borrowings declined by 31.33 percent to P89.2 billion from the P129.91 billion recorded in the same period in 2023.
The BTr previously reported that the national government posted a lower budget surplus in April compared to a year ago amid the acceleration in public expenditures.
According to the BTr, the government achieved a P42.7 billion budget surplus for April, 36.03 percent lower than last year’s P66.8 billion.
The BTr attributed the smaller surplus for the month to the significant growth in expenditures, which outpaced the rise in revenue collection.
As a result, the year-to-date budget deficit stood at P229.9 billion, up 12.66 percent than last year’s level.
