The national government’s gross borrowings in January to July rose 15.49 percent year-on-year as domestic financing registered a double-digit increase.
According to the latest cash operations report posted on the Bureau of the Treasury’s (BTr) website, the government’s gross borrowings in the first seven months of the year jumped to P1.76 trillion from the P1.52 trillion recorded a year ago.
Gross domestic borrowings for the period accounted for the bigger chunk amounting to P1.48 trillion, up 30.69 percent from the year ago level of P1.14 trillion.
Of the said amount, P764.21 billion is in fixed rate treasury bonds, while P134.66 billion was accounted for by treasury bills.
Also, P584.86 billion was raised in February through the retail treasury bonds offer.
Meanwhile, the BTr data showed gross external borrowings for the period fell by 28.98 percent to P275.48 billion from P387.88 billion a year ago.
Project loans totaled to P59.73 billion while P100.5 billion was from program loans.
The government also raised P115.25 billion from its dual-tranche global dollar bond offering in May.
For the month alone, the government recorded gross financing of P188.65 billion, 42.99 percent up from the year ago level of P131.94 billion.
Gross domestic borrowings amounted to P180.59 billion while foreign borrowings stood at P8.06 billion.
The BTr earlier reported the national government’s budget deficit narrowed in the month of July due to the double-digit growth in revenues.
The budget deficit for July 2024 declined by 39.67 percent year-on-year to P28.8 billion, driven by faster revenue growth of 11.09 percent compared to the 5.8 percent increase in expenditures.
The resulting year-to-date budget gap stood at P642.8 billion, up by 7.21 percent from the same period last year.
