NG gross borrowings rise 35% in 10 months

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    The national government’s gross borrowings in the first 10 months of the year posted a double-digit increase versus the same period a year ago, as both domestic and foreign financing went up from last year’s level.

    Data posted in the Bureau of the Treasury’s website showed that gross financing in January to October stood at P967.56 billion, 34.88 percent up from the P717.35 billion recorded in the same 10-month period in 2018.

    Gross domestic borrowings accounted for bulk of the increase, jumping by 56.23 percent to P673.81 billion from the P431.3 billion borrowed as of end-October 2018.

    Of the said amount, P401.9 billion was accounted for by fixed rate treasury bonds, followed by retail treasury bonds with P235.83 billion, and treasury bills with P36.07 billion.
    External financing also inched up by 2.69 percent to P293.75 billion from the P286.05 billion recorded a year ago.

    Of that amount, P30.44 billion was in the form of project loans while program loans accounted for P77.6 billion.

    The government also raised P78.04 billion from its global bond issuance early this year, as well as P18.86 billion from Panda bonds, P43.49 billion from Euro bonds, and P45.26 billion from its offer of Samurai bonds.

    For October alone, gross borrowings totaled to P50.27 billion, 47.42 percent up from the P34.1 billion recorded in the same period last year.

    Both external and domestic financing grew by 51.66 percent and 47.18 percent, respectively.