Debt servicing by the national government declined in April from a month and a year earlier on lower amortizations and interest payments, data from the Bureau of the Treasury showed.
Debt payments amounted to P45.21 billion, 44.6 percent lower than March’s P81.65 billion, and eased 9.2 percent from the P49.79 billion recorded a year earlier.
Government interest payments also plunged by 58.6 percent to P14.76 billion from March’s P35.74 billion, declining by 5.8 percent from P15.67 billion in April 2015.
Of the interest amount, domestic payments fell 5.1 percent to P8.76 billion, while servicing to foreign debts declined 6.7 percent to P6 billion, year-on-year, respectively.
Meanwhile, amortization expenses fell by 10.7 percent year-on-year to P30.44 billion from P34.11 billion. Amortization also dropped 33.6 percent when compared to March’s P45.9 billion.
Of the total, domestic payments fell by 11.8 percent to P27.6 billion from P31.3 billion. Foreign amortizations, at P2.83 billion, were 0.89 percent higher from P2.81 billion.
Debt payments for the first four months of 2016 eased 15.3 percent to P220.61 billion from P260.59 billion in the same period a year earlier.
The Treasury bureau earlier reported that the government’s outstanding debt eased by 0.3 percent to P5.88 trillion as of April from P5.9 trillion during the same period last year.
Domestic borrowings declined to P3.77 trillion or 1.9 percent lower from a year ago while loans from foreign investors rose to P2.11 trillion. National government-guaranteed obligations, meanwhile, rose to P458 billion.