A combination of two commercial borrowings through bond issuances jacked up the national government’s outstanding debt to a new high of P12.68 trillion in March. | bendeveraINQ /PDI
It was also in March when the Philippines borrowed P117.3 billion through US dollar-denominated global bonds across three tenors, including the country’s first-ever “green” bonds aimed at financing climate mitigation and adaptation programs.
BTr data showed that as of end-March, 69.8 percent of the Philippines’ debt amounting to P8.85 trillion were peso-denominated, as the government borrows more from local creditors to temper foreign exchange risks while taking advantage of flushing liquidity here. With P2.2 trillion in gross borrowings programmed for 2022, of which three-fourths or P1.65 trillion will be sourced from domestic creditors mainly through the issuance of treasury bills and bonds, outstanding debt was expected to hit a new annual record-high of P13.42 trillion by end-2022, from P11.73 trillion in 2021.Despite expectations of 7 to 9 percent gross domestic product growth this year, the debt-to-GDP ratio was expected to slightly rise to 60.
“Recognizing [the Philippines’] efforts at maintaining fiscal discipline and ensuring prudence in public expenditure, multilateral financial institutions and commercial markets remain very supportive of the national government’s financing program,” the DOF said. Also, “a total of 54 project loans amounting to around $13.5 billion have been contracted in support of infrastructure flagship projects under the ‘Build, Build, Build’ program, as well as other priority sectoral initiatives and COVID-19 response” as of December last year, the DOF said. For big-ticket projects under the ambitious Build, Build, Build infrastructure program alone, the government borrowed $8.8 billion across 27 concessional or low-interest loans as of 2021.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
China could hit PH, Taiwan amid Russia-Ukraine conflict, Duterte warns"Kung lumaki ang gera between Russia and Ukraine, pag sumabog ito, naging nuclear, medyo delikado na tayo, &39;Pag nagputok ang isang, alam mo tatamaan talaga tayo," Duterte said Tuesday night in an event of his political party PDP-Laban.
Baca lebih lajut »
’See you in hell’: President won’t endorse a successorDuterte, whose six-year-term will end in less than two months, said he is ready to vacate the country’s seat of power and will not endorse any preferred successor —even as he joked about meeting some of his followers in hell. Read:
Baca lebih lajut »
PH logs 159 new COVID-19 cases, active infections at 4,692The country’s active case count further decreased to 4,692, according to the data posted on DOH’s website.
Baca lebih lajut »
Like in 2016, INC endorses Marcos Jr.-DuterteICYMI. Religious group Iglesia ni Cristo has officially endorsed Ferdinand “Bongbong” Marcos Jr. and Sara Duterte for president and vice president in the 2022 elections. PHVote WeDecide
Baca lebih lajut »
Duterte urges voters to get their booster shots before electionsLess than a week before the 2022 elections, President Duterte urged the public to get their booster shots to protect themselves against Covid-19 when they cast their vote on May 9.
Baca lebih lajut »