GROSS borrowings by the national government fell in November as it markedly took on less debt, Bureau of the Treasury data showed.
Based on the Treasury’s latest cash operations report, gross borrowings plunged by 48.16 percent to P65.05 billion last month from P125.46 billion a year ago.
It was also substantially lower than the P129.26 billion recorded in October.
Year to date, gross borrowings amounted to P2.49 trillion, 13.7 percent higher than the P2.19 trillion posted in the comparable 2023 period.
Domestic debt, which accounted for the bulk of November gross borrowings at P48.88 billion, was 59.6 percent and 27.5 percent lower, respectively, than the year-earlier P121.02 billion and the previous month’s P67.46 billion.
For the first 11 months of the year, domestic debt totaled P1.91 trillion.
Foreign borrowings, meanwhile, were markedly higher at P16.17 billion from P4.44 billion a year earlier. It was, however, well below the P61.8 billion recorded in the previous month.
As of end-November, foreign debt totaled P582.41 billion.
The bulk of domestic borrowings, or P30 billion, came from fixed-rate Treasury bonds, with another P18.88 billion raised from T-bills.
Project loans, meanwhile, accounted for most of the foreign borrowings for the month at P8.7 billion, with another P7.47 billion raised from program loans.
Financing for the first 11 months of 2024 totaled P1.26 trillion, 37.3 percent lower than the P1.99 trillion in the same period last year.
As of end-October, the national government’s (NG) outstanding debt reached a new record high of P16.02 trillion due to weaker peso.
A total of P126.95 billion was added to the debt tally from September’s P15.89 trillion, and the count was also P1.54 trillion higher than the year-earlier P14.48 trillion.
Of the total debt stock, 32.02 percent was borrowed abroad while 67.98 percent was sourced domestically.
Domestic debt hit P10.89 trillion as of end-October, lower than the P10.93 trillion recorded a month earlier but up from P9.90 trillion from last year.
External debt, meanwhile, totaled P5.13 trillion as of end-October, P173.37 or 3.5 percent higher month on month from P4.96 trillion in September.
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