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Friday, June 14, 2024

Gov’t gross borrowings dropped nearly 60% to P50.1b in April—Treasury

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The government’s gross borrowings fell 59.9 percent in April 2024 due to lower external financing, according to the Bureau of the Treasury.

Data from the Treasury showed that gross borrowings reached P50.10 billion in April, down from P125.23 billion in the same period last year.

Month on month, gross borrowings also declined by 75 percent from P200.47 billion in March.

Gross borrowings in the first four months of 2024 amounted to P786.68 billion, down 23.3 percent from P1.02 billion a year ago.

It said that in April, domestic borrowings went down by 13.8 percent while external borrowings dropped 79.74 percent.

The Department of Budget and Management set a borrowing program of P2.46 trillion in 2024, higher than the P2.207 trillion last year.

This year’s borrowing program adopts a 75:25 borrowing mix in favor of domestic sources.

The national government’s outstanding debt amounted to P14.93 trillion as of end-March, or 1.67 percent lower than the previous month’s level.

Data showed that of the total debt stock, 31.14 percent was external debt and 68.86 percent represented domestic borrowings.

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