MANILA, Sept. 16 (PNA) — Philippine government borrowings fell in July 2015 as the country continues to strengthen its fiscal position.
Bureau of the Treasury (BTr) data show that net financing in the seventh month this year reached PHP 19.9 billion.
This is lower against the previous month’s PHP 30.3 billion and year-ago’s PHP 55.1 billion.
Bulk of the amount is accounted for by net domestic financing amounting to PHP 16.25 billion while the balance was accounted for by net external, PHP 3.65 billion.
In July 2014, bulk of the financing was accounted for by net external totalling to PHP 28.02 billion while net domestic amounted to PHP 27.1 billion.
In the first seven months this year, total borrowings posted a net of PHP 35.35 billion, down from the PHP 134.53 billion same period last year.
The government has been borrowing less from fund sources, both onshore and offshore.
In 2014, total financing reached PHP 175.24 billion, lower than the previous year’s PHP 319.112 billion. (PNA)