Gov’t loans spike 17%
Gross domestic borrowings accounted for the bulk of the financing, or 81.18 percent, while the rest were from gross external borrowings
Daily TribuneGross domestic borrowings accounted for the bulk of the financing, or 81.18 percent, while the rest were from gross external borrowings
Government borrowings increased from January to October 2023 as more debt papers were sold locally, the Bureau of Treasury said over the weekend.
The latest BTr data showed that gross borrowings rose by 17 percent to P1.86 trillion from P1.58 trillion a year ago.
Gross domestic borrowings accounted for the bulk of the financing, or 81.18 percent, while the rest were from gross external borrowings.
In particular, gross domestic borrowings during the ten months reached P1.51 trillion, while gross external borrowings stood at P456.31 billion.
For October alone, government borrowings also increased by 17 percent to P208.15 billion from P176.56 billion last year.
Gross borrowings from local lenders increased to P174.63 billion in October 2023 from P56.73 billion in October 2022.
Broken down, P90 billion was secured through fixed-rate treasury bonds. At the same time, the government recorded a net redemption of P12.85 billion for T-bills in October.
However, gross borrowings from foreign lenders decreased from P125.70 billion in October 2022 to P50.57 billion this year. Programmed loans made up the majority of external financing at P42.51 billion.
The remaining P8.05 billion of the external borrowings were project loans. There were no samurai bonds and program loans from multilateral institutions during the month.