National government debt recorded at 10,774 billion pesos at the end of March 2021


National government total (NG) rose to 10,773.83 billion pesos at the end of March 2021, the Treasury Office recently reported.

For the month, 368.00 billion pesos, an increase of 3.5% from February 2021, was added to the total portfolio due to the net issuance of government securities. Of the total outstanding debt, 28% came from abroad while 72% is domestic borrowing.

GN’s domestic debt stood at 7 744.61 billion pesos, 381.54 billion pesos or 5.2% more than at the end of February level mainly due to the net issuance of government securities, including 411.79 billion pesos of Retail Treasury Bonds (RTB). Since the level at the end of December 2020, the stock of domestic debt has increased by 1,049.92 billion pesos or 15.7%.

NG’s external debt of 3,029.22 billion pesos was 13.55 billion pesos or 0.4% lower than the previous month. For March, the lower external debt figures were due to the favorable net impact of fluctuations in the local currency and the third currency against the dollar, amounting to 6.82 billion pesos and 21.88 billion respectively. of pesos. These were more than sufficient to offset the net use of foreign loans amounting to 15.15 billion pesos. Since the level at the end of December 2020, the GN external debt is down by 71.10 billion pesos or 2.3%.

National government debt stood at 10,774 billion pesos at the end of March

Total NG guaranteed bonds fell 10.91 billion pesos or 2.4% month over month to 435.81 billion pesos in March. The lower level of secured debt was due to the net repayment of local and foreign secured bonds amounting to 4.84 pesos.

Last week, Budget Secretary Wendel Avisado said the Philippines is expected to post a budget deficit of 1,780 billion pesos this year, as the growth in disbursements outweighs the growth in revenues.

“Disbursements programmed for the financial year also counts for the the validity of the general appropriations law for fiscal year 2020 until December 31, 2021, and the appropriations under Bayanihan 2 until June 30 of this year, ”he said.

“For next year, the deficit will be gradually lowered to 7.3% of GDP as the government continues to implement a fiscal consolidation strategy to rebuild its fiscal space and ease the burden of borrowing and debt.” , Avisado said.

Visit our Facebook page for more news updates.


About Lucille Thompson

Check Also

How to choose the best debt consolidation lender?

The Good Brigade/Getty Images Debt consolidation is combining multiple debts into one loan to reduce …

Leave a Reply

Your email address will not be published.