Borrowings fall 43%

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    The national government’s gross borrowings in August fell 42.91 percent versus the same period a year ago due to a smaller Samurai bond issuance and a redemption in treasury bills.

    Data posted in the Bureau of the Treasury’s website showed gross financing in August stood at P76.524 billion. In the same period a year ago, it was recorded at P134.049 billion.

    Both external and domestic borrowings fell versus the respective year ago levels.

    For foreign financing, it dropped by 38.23 percent to P46.854 billion from P75.853 billion last year.

    Aside from the P1.595 billion worth of project loans, the government also had a Samurai bond issuance which allowed it to raise P45.259 billion.

    However, this is smaller than the P74.04 billion Samurai bond issuance in August 2018.

    For domestic financing, it amounted to P29.67 billion, 49.02 percent lower than the P58.196 billion in the same period last year.

    The government raised P60 billion via treasury bonds, but posted P30.33 billion worth of net redemption in treasury bills.

    As of end-August, gross borrowings totaled to P916.271 billion, 43.33 percent up from the P639.267 billion recorded in the same period last year.

    Both external and domestic financing grew by 8.18 percent and 66.61 percent, respectively.