The national government’s gross borrowings in the first quarter of the year declined by 21.71 percent, amounting to P1.08 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 March was lower than the P1.38 trillion raised a year ago.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P849.12 billion, down 34.78 percent from the year ago level of P1.3 trillion.
Of the said amount, P230.86 billion is in fixed rate treasury bonds, P457.8 billion was accounted for by retail treasury bonds, while P300 billion was from the short-term borrowings from the central bank.
A net redemption of P139.54 billion was recorded in treasury bills.
The BTr data, meanwhile, showed that gross external borrowings for the period rose by 193.3 percent to P233.02 billion, from P79.45 billion a year ago.
Project loans totaled to P26.62 billion while P89.08 billion was from program loans.
The Philippine government also raised P117.33 billion from the global bond issuance in March.
In March alone, the government’s gross borrowings amounted to P589.89 billion, 4.44 percent down from the P617.3 billion recorded a year ago. – Angela Celis
