THE state’s gross borrowings in October rose by almost a quarter year-on-year to over P225 billion as the national government’s domestic borrowings tripled during the reference month, according to the Bureau of the Treasury (BTr).
Latest Treasury data showed the national government borrowed a total of P225.202 billion in gross terms in October, about 23.45 percent higher than the P182.429 billion recorded in the same month of last year.
Treasury data indicated that about two-thirds of the gross borrowings in October came from domestic sources while the remaining financing was borrowed externally.
The state’s domestic gross borrowings in October tripled to P174.632 billion from P56.733 billion last year on the back of a P71.78-billion retail onshore dollar bonds offering, based on Treasury data.
The state borrowed P90 billion through the sale of fixed-rate Treasury bonds, about 16.75 percent lower than the P108.114 billion amount it generated in October last year, Treasury data showed.
The national government’s net Treasury bills reached P12.852 billion versus the P51.381 billion net redemption last year as the amount of gross borrowings outpaced payments during the reference period.
Treasury data showed that the national government’s external gross borrowings in October declined by nearly 60 percent to P50.57 billion from P125.696 billion last year.
The drop in external gross borrowings in October was attributed to the absence of a Global Bonds offering this year compared to last year when the state raised P116.933 billion from such tender, based on Treasury data.
The state’s external borrowings via project loan fell by 8.07 percent to P8.056 billion from P8.763 billion last year.
The state also borrowed P42.514 billion in program loans in October, Treasury data showed.
On a year-to-date basis, the state’s gross borrowings from January to October dipped by 1.52 percent to P1.975 trillion from P2.01 trillion recorded in the same 10-month period last year, Treasury data showed.
The amount is already 89.48 percent of the state’s programmed full-year gross borrowing plan of P2.207 trillion, with a 75:25 mix in favor of domestic sources.
The state’s gross domestic borrowings during the 10-month period fell slightly to P1.519 trillion from P1.53 trillion in the same period last year. External gross borrowings, meanwhile, declined by 3.25 percent year-on-year to P456.311 billion from P471.655 billion.
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