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The Bureau of the Treasury said over the weekend government’s gross borrowings dropped 67.6 percent in January this year from a year ago.
Gross domestic debt fell 21.12 percent in January to P141.50 billion from P179.30 billion a year earlier. Broken down, the BTr raised P130 billion from fixed-rate Treasury bonds and P11.501 billion from Treasury bills. Finance Secretary Ralph Recto earlier said the country’s total financing requirement for the year would amount to P2.46 trillion, and the government would continue to adopt a 75:25 borrowing mix in favor of domestic sources.This prudent debt management strategy will allow the country to effectively mitigate foreign exchange risks, take advantage of the abundant liquidity in the country’s financial system and support the development of the local debt and capital markets, he said.
The BTr earlier raised a total of P584.86 billion from the issuance of the 30th tranche of retail treasury bonds .
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