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Manila Bulletin devider Business devider NG borrowings down to P1.8 trillion at end-Sept.

NG borrowings down to P1.8 trillion at end-Sept.

Published Nov 5, 2023 06:14 pm

At A Glance

  • Gross financing for the Marcos administration decreased by 2% in January to September 2023 compared to the same period last year.<br>Domestic borrowing dropped by 7% during the same period, from P1.478 trillion to P1.376 trillion.<br>Long-dated debt papers accounted for more than half of the government's local borrowings, totaling P965.83 billion.<br>The government sold P283.76 billion worth of retail Treasury bonds and P126.84 billion of short-term IOUs.<br>Foreign borrowing increased by 17% to P405.74 billion in the first three quarters of 2022.<br>The government raised P163.61 billion through the sale of global bonds.<br>Loans for government programs and projects from development partners amounted to P145.06 billion and P97.07 billion, respectively.<br>In September, gross borrowing of the national government decreased to P103.25 billion, compared to P444.87 billion in the same month the previous year.<br>The drop in September's gross borrowing was influenced by the sale of P376.68 billion worth of retail treasury bonds in the same month last year.

The Bureau of the Treasury said the Marcos administration has recorded a slight decrease in its foreign and local borrowings in the first nine months of the year.

From January to September 2023, gross financing totaled P1.782 trillion, a two percent drop compared to the same period last year when it amounted to P1.824 trillion.

The Treasury report indicated that the fall in gross financing was primarily driven by a seven percent drop in domestic borrowing from P1.478 trillion to P1.376 trillion as of September.

More than half of the total financing obtained by the government consisted of long-dated debt papers, amounting to P965.83 billion.

In addition, the government successfully sold P283.76 billion worth of retail Treasury bonds and P126.84 billion of short-term IOUs.

On the other hand, foreign borrowing posted a notable increase of 17 percent, rising from P345.66 billion in the first three quarters of 2022 to P405.74 billion.

As of September, the government generated P163.61 billion through the sale of global bonds.

President Marcos also sought support from the country's development partners, securing loans of P145.06 billion for government programs and P97.07 billion for various projects.

In September alone, the gross borrowing of the national government registered a significant deceleration from P444.87 billion in the same month of the previous year to P103.25 billion.

The Treasury report attributed this substantial drop to the sale of retail treasury bonds in September 2022, which amounted to P376.68 billion.

Domestic borrowings reached a total of P92.07 billion last September, while foreign financing amounted to P11.16 billion.

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government borrowings government debt Bureau of the Treasury
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