Former President Duterte borrowed P1 trillion in his final six months in Malacañang.
Data from the Bureau of the Treasury showed that the national government’s net borrowings hit P1.021 trillion from January to June this year. This amount, however, was 40 percent lower compared with P1.719 trillion in the same period last year.
However, the government registered a net redemption of Treasury bills amounting to of P251.92 billion in the first semester and settled its P300 billion cash advance from the Bangko Sentral ng Pilipinas. The government also tapped the overseas debt markets for P117.32 billion in fresh debt and sold P28 billion of Samurai bonds.In June alone, the national government’s net borrowing dropped 15 percent from P159.9 billion to P138.63 billion. Of that amount, P96.1 billion were domestically borrowed and P42.5 billion from foreign financing.
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