Government borrowed lower in February, BTr data bares.
The national government has reported a total of P60.333 billion in gross borrowings for the month of February, lower by 44.58 percent from last year's P108.87 billion, data from the Bureau of the Treasury (BTr) showed.
Based on the data, the gross borrowings for February had domestic borrowings comprising a higher share than that of borrowings from foreign entities.
Domestic borrowings for the month amounted to P59.438 billion, which is higher compared to last year's local borrowings that reported a contraction of P1.469 billion.
Broken down, fixed rate Treasury bonds formed bulk of domestic borrowings at P30 billion, while net of Treasury bills amounted to P29.438 billion for the month.
The government reported foreign borrowings amounting to P895 million for the month, showing a 99.19-percent decline from last year's P110.339 billion external borrowings. Project loans covered the whole of external borrowings for the month totaling P894.82 billion.
From the January-to-February period this year, the government registered total gross borrowings at P309.131 billion, which increased by 99.7 percent compared to the P154.829 billion recorded in the same period for 2018.
Broken down, domestic borrowings for the two-month period amounted to P192.615 billion, while external borrowings totaled P116.516 billion.
For this year, the national government has programmed its gross borrowings for both domestic and foreign IOUs at P1.19 trillion, which is higher by 20.7 percent from the 2018 level of P986 billion.
Broken down, external borrowings will account for P297.2 billion and domestic borrowings at P891.7 billion of the total. The government was said to be eyeing a borrowing mix of 75:25 for this year with domestic borrowings accounting for 75 percent and foreign borrowings at 25 percent.
Last month, the BTr reported that the government's gross borrowings for January amounted to P248.798 billion, expanding by 441.34 percent compared to the P45.959 billion recorded in the same month for 2018.
The increase in the gross borrowing for January this year came on the back of higher domestic borrowings at P133.177 billion, while external borrowings only represented P115.621 billion of the total.
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|Publication:||Business Mirror (Makati City, Philippines)|
|Date:||Apr 7, 2019|
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