• April govt debt rises 6.2% to P5.6T

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    THE national government’s outstanding debt stood at P5.64 trillion in April, up 6.2 percent from the P5.308 trillion recorded in the same month last year, with both domestic and foreign borrowings rising to finance expenditures and plug a budget deficit.

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    Data from the Bureau of Treasury showed that domestic and external obligations increased by 7.2 percent and 4.5 percent, respectively, from their year-earlier levels.

    Month-on-month, government debt in April increased by only 0.2 percent or P12 billion from the P5.62 trillion recorded in March.

    Of the total debt stock as of April, domestic obligations accounted for P3.686 trillion or 65 percent, while external borrowings took up P1.953 trillion or 35 percent.

    Because of net issuances and foreign exchange adjustments, domestic debt increased 0.7 percent in April from March.

    On the other hand, foreign debt eased 0.6 percent month-on-month as the net availment of foreign loans was slightly offset by the appreciation of the peso.

    Foreign borrowings during the month used a foreign exchange rate of P44.50 to the US dollar.

    As of end-April, total national government guaranteed debt amounted to P468 billion, down 0.7 percent or P3 billion from end-March, the treasury bureau said.

    “This is primarily due to the reduction in external guaranteed obligations—a product of net repayments and currency adjustments,” it said.

    Domestic guaranteed obligations were unchanged from March. Year-on-year, total guaranteed obligations fell by 1.5 percent or P7 billion, the bureau said.

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