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Monday, October 3, 2022

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The Bureau of Treasury building in Intramuros, Manila. PHOTO BY AARON RONQUILLO

Top Business

PH govt reduces borrowings by P1T

THE national government reduced its borrowing by around P1 trillion as of end-August due to lower financing from domestic and foreign creditors, Bureau of the Treasury (BTr) figures showed on Sunday. The Treasury bureau made the report after the total debt of the national government stood at P13.021 trillion as of August, an increase of 12 percent or P1.379 trillion from P11.642 trillion a year ago. According to BTr data, the government had borrowed P1.041 trillion in total from local creditors as of August, down from P1.929 trillion in July. Domestic borrowing was primarily accomplished

By Tiziana Celine Piatos - October 3, 2022

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