Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home>>Daily News>>Philippines>>Economy>>PHL gov't debt swells to P7.104 trillion by end-August

NEWS UPDATES Asean Affairs   October 1, 2018  






PHL gov't debt swells to P7.104 trillion by end-August

The national government's outstanding debt hit another record-high at P7.104 trillion in the first eight months of the year on the back of high foreign borrowings amid the issuance of yen-denominated debt bonds.

Data from the Bureau of Treasury (BTr) released last Friday showed the total outstanding debt rose by 10.5 percent from P6.432 trillion in the same period in 2017.

Month-on-month, the total obligations widened by 0.86 percent from P7.04 trillion in end-July.

Foreign debt grew by 3.6 percent at P2.531 trillion while domestic debt declined by 0.6 percent to P4.573 trillion.

“The growth in external debt was due to net availment of foreign loans amounting to P72.3 billion, including the issuance of Samurai bonds. Currency fluctuations on both dollar and third-currency denominated debt added P14.48 billion and P1.1 billion, respectively,” the BTR said.

Last month, the government raised ¥154.2 billion or around P74.4 billion from Samurai bonds in three tenors.

Borrowing sourced locally, meanwhile, declined due to "net redemption of government securities amounting to P27.77 billion, slightly offset by the depreciation of the peso that increased the value of onshore dollar bonds by P160 million.”

The peso appreciated from P53.160$1 as of end-July to P53.475:$1 as of end-August, the Btr said.

Foreign debt accounted for 35.6 percent of the total outstanding liabilities in end-August, while domestic borrowings contributed 64.37 percent.

Budget Secretary Benjamin Diokno earlier said that “the rule of thumb is that a country with a debt-to-GDP [gross domestic product] ratio below 60 percent is fiscally sound.”

Diokno said, "The Philippines is comfortably below that..." It is at 42 percent in 2017 and is expected to decline further to 39 percent in 2022.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



  Today's  Stories                      October 1, 2018 
• PHL gov't debt swells to P7.104 trillion by end-August
• Visa restrictions relaxed for visitors from Japan, China and Hong Kong Subcribe: Asean Affairs Global Magazine
• Economic stability first, growth next: Minister Subsribe Now !
• IMF lowers 2018 growth forecast for PHL to 6.5 percent  
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Indonesia to offer six projects at IMF-World Bank Annual Meetings
Asean Stock Watch   September 26,  2018

• Asean Stock Watch-September 26, 2018
Asean Analysis                June 15,  2018
• Asean Analysis June  11, 2018
Inflation may yet peak —Diokno
Advertise Your Brand

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com