Gov’t debt climbs to P10T

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    The national government’s (NG) outstanding debt as of end-November 2020 reached P10.13 trillion, posting a 1.1 percent hike from the previous month’s level primarily due to higher domestic borrowing, the Bureau of the Treasury (BTr) said.

    The BTr statement released yesterday showed the outstanding NG debt surged by 31.4 percent from its year ago level, while the NG debt stock has grown by 31.1 percent from the start of the year, owing to higher funding requirements to respond to the coronavirus pandemic and other socio-economic measures.

    Of the total outstanding debt stock, 29 percent were sourced externally while 71 percent are domestic debt.

    NG domestic debt amounted to P7.19 trillion, 1.6 percent higher compared to the end-October level due to the net issuance of domestic government securities, the BTr said.

    To date, domestic debt has increased by 40.3 percent, while it went up 40.6 percent from the end-November 2019 level.

    On the other hand, the NG external debt of P2.94 trillion was 0.3 percent lower from the previous month.

    “For November, the lower figure was primarily due to the P10.74 billion net effect of currency adjustments, particularly peso appreciation offsetting net foreign loan availments amounting to P2.55 billion,” the BTr said.

    From the start of the year, NG external debt has increased by 13 percent, while it went up 13.4 percent from a year ago.

    Meanwhile, NG domestic borrowing for the year amounted to P2.38 trillion as of end-November 2020. Net treasury bills totaled P465.31 billion, while treasury bonds and retail treasury bonds reached P631.74 billion and P738.54 billion, respectively, net of the P88.56 billion domestic bond exchange.

    Short-term borrowing from the Bangko Sentral ng Pilipinas amounted to P540 billion.

    NG external financing registered an inflow of P583.64 billion for January to November 2020.

    For the period, project loan availment totaled P32.93 billion while program loans amounted to P364.64 billion.

    Offshore bond issuances totaled P186.06 billion.