Debt servicing by the national government eased in November last year, declining from a year ago on the back of lower amortizations and interest payments, data from the Bureau of the Treasury showed.
Debt payments amounted to P26.498 billion, down by 2.07 percent compared to the P27.059 billion recorded a year earlier. It was up, however, by 33.8 percent from October’s P19.8 billion.
Government interest payments declined by 11.6 percent to P15.992 billion. Of the amount, domestic lenders received P14.122 billion while P1.870 billion went to service foreign debts.
Amortization expenses also fell by 17.3 percent year-on-year to P10.506 billion. Of the total, domestic payments fell by 16.3 percent to P4.073 billion. Foreign amortizations, at P6.433 billion, were 17.9 percent higher.
Year to date, debt payments rose by 5.4 percent to P505.844 billion from P479.755 billion.
The Treasury bureau earlier reported that the government’s outstanding debt grew by 4.1 percent to P5.95 trillion as of November from the same period last year.
Domestic borrowings climbed to P3.9 trillion or 2.8 percent from a year ago while loans from foreign investors rose to P2.06 trillion. National government-guaranteed obligations, meanwhile, rose by 1.9 percent to P440 billion.