Connect with us

Business

State debt service down in February

Joshua Lao

Published

on

The total debt payments of the national government was lower in February compared to what was settled during the same month a year ago, a data from the Bureau of Treasury shows.

Aggregating at P33.29 billion during the month, the latest figure reflects a 334.37 percent decline from  P144.63 billion posted in February 2020.

Bulk or P31.16 billion of the overall stock went to interest payments, P22.01 billion of which were used to settle domestic debt while the remaining P9.15 billion were paid to foreign liabilities.

External amortization stood at P2.13 billion in February 2021, notably lower than the recorded P49.55 in the same month last year.

For the first two months of the year, total debt service of the national government was recorded at P253.09 billion, a 14.85 percent drop from the registered P290.68 billion in the same period year-ago.

Total amortization payments to both domestic and external sources of P174.90 billion represented a 22.30 percent decline from the listed P213.92 billion in the same comparable period.

Total interest payments meanwhile, was higher with P78.19 billion compared to last year’s P76.76 billion.

State economists earlier said the government’s debt level remains manageable and will continue to do so as such was loaned prudently and in consideration of current market developments.

Advertisement
Advertisement
Advertisement