GROSS BORROWINGS dropped by 28% as of end-April, as the National Government saw lower financing requirements despite the prolonged pandemic.
GROSS BORROWINGS dropped by 28% as of end-April, as the National Government saw lowerBased on preliminary data from the Bureau of the Treasury , total gross borrowings stood at P1.18 trillion, lower than the P1.65 trillion seen in the same period last year.The government borrows from domestic and foreign sources in order to fund a budget deDomestic gross borrowings slumped by 37% to P66.38 billion in April, from P106.15 billion a year ago.
The Samurai bonds, issued on April 12, were the country’s first sustainability bond in the Japanese market. Funds will be used for sustainable development and climate change mitigation initiatives.In the first four months of 2022, gross domestic borrowings fell by 34% to P915.49 billion.xed-rate T-bonds.The government wants to raise P2.2 trillion to help fund its budget deficit this year, with 75% coming from the local market while the remainder will be loaned from foreign lenders.
In an economic bulletin on Saturday, the Department of Finance said the recent buildup of debt is mainly due to the country’s pandemic response.
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