The national government’s gross borrowings as of end-November stood at P2.1 trillion, 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 November declined by 24.46 percent versus the year ago level of P2.78 trillion.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P1.61 trillion, down 28.4 percent from the year ago level of P2.25 trillion.
Of the amount, P1.14 trillion is in fixed rate treasury bonds, while P834.48 billion was accounted for by retail treasury bonds.
Meanwhile, a net redemption of P360.77 billion was recorded in treasury bills.
The BTr data also showed gross external borrowings for the period declined 6.66 percent, to P493.61 billion from P528.81 billion a year ago.
Project loans totaled to P94.2 billion while P136.6 billion was from program loans.
The government also raised P234.26 billion from its global bond issuances and P28.55 billion from Samurai bonds.
In November alone, the government recorded gross financing of P97.87 billion, up from the P26.7 billion recorded a year ago.
Gross domestic borrowings rose to P75.91 billion from the P16.6 billion posted in the same period in 2021.
Foreign borrowings jumped to P21.96 billion from P10.1 billion in November last year.
The national government earlier reported that its budget deficit narrowed in November as the growth of revenues outpaced that of expenditures.
The latest cash operations report showed that the deficit in November stood at P123.9 billion, 3.71 percent lower versus the P128.7 billion recorded in the previous year.
Thus, the budget deficit for the first 11 months of the year amounted to P1.24 trillion, down 7.2 percent from the year ago level of P1.33 trillion.
The deficit as of end-November accounts for 75 percent of the P1.7 trillion full year program.
