The national government’s gross borrowings in the first semester rose 32.91 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 six months of the year jumped to P1.42 trillion from the P1.07 trillion recorded a year ago.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P1.06 trillion, up 42.53 percent from the year ago level of P741.26 billion.
Of the said amount, P686.15 billion is in fixed rate treasury bonds, while P86.58 billion was accounted for by treasury bills.
In February, the government also raised P283.76 billion from its 5.5-year retail treasury bond offer.
Meanwhile, the BTr data also showed that gross external borrowings for the period went up by 11.27 percent to P366.44 billion from P329.34 billion a year ago.
Project loans totaled to P57.78 billion while P145.06 billion was from program loans.
The Philippine government also raised P163.61 billion from its global bond issuance in January, when it had a triple-tranche US dollar bond sale.
In June alone, the government recorded gross financing of P166.49 billion, 13.9 percent up from the P146.17 billion in the same month last year.
Gross domestic borrowings amounted to P143.92 billion while foreign borrowings stood at P22.57 billion.
The BTr earlier reported that the government’s budget deficit in the first semester fell below program by 28.49 percent due to, among others, the underspending of implementing agencies.
The government’s budget deficit in January to June stood at P551.7 billion, well below the P771.5 billion ceiling.
Government expenditures amounted to P2.41 trillion, 6.6 percent below the program of P2.58 trillion.
Revenues, on the other hand, surpassed the P1.81 trillion goal by 2.72 percent, amounting to P1.86 trillion.
