Total debt payments of the national government (NG) was higher in the first eight months versus a year ago, data from the Bureau of Treasury showed.
Aggregating at P909.41 billion as of end-August 2021, the latest figure reflects a 19.55 percent incline from the posted P760.65 billion as of end-August 2020.
Bulk or P617.92 billion of the overall stock went to both domestic and external amortization, significantly higher than the listed P491.04 billion in the same comparable period.
Interest payments during the January to August 2021 period stood at P291.49 billion, P217.51 billion of which were used to settle domestic debt while the remaining P73.97 billion were paid to foreign liabilities.
For the month of August alone, total debt service of the NG was recorded at P75.08 billion, much lower than the registered P152.39 billion in the same month last year.
Amortization totals P51.15B
Similarly, total amortization payments of just P51.15 billion declined from the posted P129.84 billion in the same comparable period.
Total interest payments meanwhile increased slightly to P23.93 billion compared to last year’s P22.54 billion.