Government debt stock rose anew in October this year due to new loans and weakening peso, data from the Bureau of the Treasury revealed. READ:
Government debt stock rose anew in October this year due to new loans and weakening peso, data from the Bureau of the Treasury revealed.
Month-on-month, total debt inched up by 0.92 percent from P13.517 trillion. Since end-December last year, it has already risen by P1.91 trillion or 16.31 percent. Local debt comprises 68.58 percent of the total debt stock, which has increased by 14.5 percent since the beginning of the year due to continued preference for domestic financing to mitigate foreign currency risk.
According to the Treasury, the increase was due to the P118.71 billion net availment of foreign financing.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Govt raises less than half of ₧15-B T-bills offered - BusinessMirrorTHE national government on Monday borrowed P7.1 billion through the sale of Treasury bills (T-bills), less than half of the P15 billion that the Bureau of the Treasury (BTr) intended to raise. This now marked the fourth consecutive month that the Treasury was unable to fully award the sale of T-bills amid increasing demand by
Read more »
PHL govt stands firm: No onion importations - BusinessMirrorTHE Philippines stands firm that it will not import onions as long as there is “available” local supply, and importation would be “last resort” to pull down the retail price of the commodity in the market. Agriculture Deputy Spokesperson Rex Estoperez said the department would only authorize the importation of the onion if existing local
Read more »
Philippines trims 2023 GDP growth target due to global risksThe Philippines lowered its economic growth target for 2023, taking into account an anticipated weakening in global activity, but retained its expansion goals for the succeeding five years.
Read more »
Brave Morocco advances as Spain flops in shootoutMorocco becomes the first Arab nation ever to reach the World Cup quarterfinals after dumping former champion Spain in a last 16 penalty shootout. FIFAWorldCup
Read more »
Lemery, Batangas farmers benefit from DAR’s Tulay ng Pangulo project - BusinessMirrorFarmers and residents of Barangay Cahilan II and three other barangays in the town of Lemery, Batangas can now safely cross a dead river to bring their agricultural products to the nearest market following the competition of a P13.4 million bridge project of the government. The Tulay ng Pangulo Para sa Kanularang Pang-Agraryo (TPKP) project
Read more »
SMC optimism amid challenging times in the power sectorMSOpinion SMC optimism amid challenging times in the power sector “But our energy sources still remain to be fully harnessed and much still has to be done to improve our energy infrastructure.” READ:
Read more »