THE national government’s (NG) gross borrowings rose slightly in the first six months of the year on higher external financing, Bureau of the Treasury data showed.
In its latest cash operations report, the Treasury said gross borrowings posted a 1.3-percent uptick to P1.59 trillion in the January to June period from P1.57 trillion a year earlier.
Domestic debt accounted for the bulk at P1.19 trillion, lower than the P1.3 trillion recorded in the same period last year.
Gross external financing, meanwhile, was at P402.35 billion, up from P267.4 billion in the January to June 2024 period.
It totaled P96.41 billion in June alone, up from P15.7 billion a year earlier and P6.25 billion in May.
A global bond issuance in February accounted for P191.96 billion of the January-June tally while program loans totaled P171.3 billion, of which P86.1 billion was received in June.
The rest of the gross external financing for the first half came from P39.08 billion in project loans, P10.3 billion having come in in June.
As for the P1.9 billion in gross domestic borrowings for the first half, P756.83 billion came from fixed-rate Treasury bonds, P300 billion from fixed-rate Treasury notes and P132.2 billion from Treasury bills.
In June alone, P127.68 billion in fixed-rate T-bonds were issued while P39.9 billion was raised from T-bills, bringing gross domestic borrowings for the month to P167.58 billion.
This was lower than the P132.5 billion recorded a year ago and the P186.06 billion in May this year.
The national government’s outstanding debt reached a new high of P16.92 trillion in May.
Of the total debt stock, 30.4 percent was borrowed abroad while 69.6 percent was sourced domestically.
Domestic debt rose to P11.78 trillion as of end-May, higher than the P11.59 trillion recorded in April and P10.44 trillion a year ago. External debt, meanwhile, totaled P5.14 trillion, P23.76 billion lower compared to the month-earlier P5.16 trillion.
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