THE national government's gross borrowings dropped to almost P90 billion in April as foreign debt plunged, latest Bureau of the Treasury data showed.
THE national government's gross borrowings dropped to almost P90 billion in April as foreign debt plunged, latest Bureau of the Treasury data showed.Based on the bureau's latest cash operations report, overall borrowings totaled P89.20 billion for the month, down 31.3 percent from P129.91 billion a year earlier. It also dropped from the P207.27 billion recorded in March of this year.Year-to-date, gross borrowings came in at P1.16 trillion, 7.9 percent higher than the P1.
In the first quarter, foreign debt totaled at P124.10 billion.The bulk of domestic borrowings, or P67.26 billion, came from fixed rate Treasury bonds, with another P15.10 billion raised from T-bills.Project loans, meanwhile, accounted for most of the foreign borrowings for the month at P6.84 billion.Government financing dropped to P50.1 billion for the month, down 60 percent from the year-earlier P125.23 billion. It was also down almost four times from March's P200.46 billion.
Gross Borrowings Plunge 31.2% In April
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