The national government’s borrowings for May amounted to P126.086 billion, posting an increase of 117.5 percent from the P57.969 billion made in the same month last year, data from the Bureau of the Treasury showed (BTr).
Based on BTr data, the government’s debt from domestic sources amounted to P55.908 billion, while external borrowings reached P75.178 billion during the period.
Gross domestic borrowings for the month decreased by 8.2 percent from the P55.435 billion made last year, while gross external borrowings expanded by 2,866.8 percent from last year’s P2.534 billion.
Borrowings in the form of fixed- rate Treasury bonds took the bigger chunk from domestic gross borrowings amounting to P40 billion while Treasury bills accounted for the remaining P10.908 billion.
For external gross borrowings, global bonds took the biggest share amounting to P62.834 billion, project loans accounted for P6.336 billion, and program loans, P6.008 billion.
For the January-to-May period, the government’s gross borrowings amounted to P787.607 billion, posting a growth of 161.8 percent from the P300.84 billion made during the same period last year.
Broken down, the domestic borrowings accounted for P576.016 billion, while external borrowings amounted to P211.591 billion.
The government’s debt from domestic sources for the five month period posted an increase of 282.86 percent from the P150.449 billion recorded in 2018, while external borrowings also showed a growth of 40.69 percent from the P150.391 billion made in the same period for 2018.
For this year, the national government has programmed its gross borrowings for both domestic and foreign IOUs at P1.19 trillion, which is higher by 20.7 percent from the 2018 level of P986 billion.
Broken down, debt from external sources will account for P297.2 billion while domestic borrowings are pegged at P891.7 billion. The government is eyeing a borrowing mix of 75:25 for this year, with domestic sources accounting for 75 percent and foreign sources at 25 percent.