Thailand
Philippines: Govt borrowings fall in Aug
The national government’s gross borrowings fell to P111 billion in August, bringing the year-to-date total to P2.38 trillion, data from the Bureau of Treasury (BTr) showed.
The actual gross financing in the eighth month of 2021 was P111.70 billion, down from P612.91 billion a year before by 81.77 percent.
Domestic borrowings plunged by 82.72 percent to P100.96 billion last year, shrinking from P584.37 billion the year before.
Fixed-rate bonds worth P132 billion were issued to provide local financing, while Treasury bills were redeemed for debt worth P31.03 billion.
External borrowings, on the other hand, decreased by 41.36 percent this year, sliding from P28.53 billion to P16.73 billion.
To raise foreign finance throughout the month, P12.17 billion in project loans, and P4.60 billion in program loans were utilized.
The government borrowed a total of P2.38 trillion in the first eight months. Domestic financing totaled P1.92 trillion, while external borrowings amounted P458.50 trillion.
Based on the latest Department of Budget and Management‘s Budget of Expenditures and Sources of Financing for fiscal year 2021, the national government has set a revised gross borrowing program of P3.07 trillion this year. This is larger than the adjusted gross financing of P2.65 trillion in 2020.
Of the total, P2.49 trillion will be generated through domestic financing, while P581.37 billion will be raised through external sources.
At the end of August, the government’s outstanding debt already hit a record high of P11.64 trillion, up 0.28 percent, or P32.05 billion, from P11.61 trillion a month before.
“Of the total debt stock, 29.4 percent was sourced externally while 70.6 percent were domestic borrowings,” the BTr has noted.
The August result was attributed to net issuances of government securities.
A year earlier, outstanding obligations totaled P9.61 trillion, with P6.71 trillion comprising domestic debt and P2.90 trillion accounting for external commitments.
Government-guaranteed debt, meanwhile, fell by 2.7 percent, or P12.08 billion, to P432.21 billion at the end of August.
Source: https://www.manilatimes.net/2021/10/04/business/top-business/govt-borrowings-fall-in-aug/1817004