NG liabilities reached P4.9 trillion in end-October ‘11

January 13, 2012 11:30 pm 

MANILA, Jan. 13 – Total debt of the national government (NG) expanded by 4.68 percent year-on-year in October 2011 and by 0.57 percent from last September’s level to P4.898 trillion.

Data of the Bureau of the Treasury (BTr) showed that the October figure was P218.83 billion higher than year-ago’s P4.679 trillion. Month-on-month, the rise stood at P27.52 billion against September 2011’s P4.87 trillion.

Bulk or 57.89 percent of the liabilities was sourced from on-shore creditors at P2.84 trillion while foreign debt accounted for 42.11 percent amounting to P2.06 trillion.

Domestic liabilities went up by 5.12 percent against year-ago’s P2.7 trillion and 1.96 percent from month-ago’s P2.78 trillion “due to the P54.76 billion net issuance of government securities by NG and P0.21 billion net appreciation of the local currency against the U.S. dollar and EUR-denominated domestic debt.”

Also, foreign debt expanded by 4.08 percent from the P1.98 trillion level in October 2011 but declined by 1.29 percent from last September’s P2.09 trillion because of “the P38.30 billion appreciation of the local currency against the U.S. dollar and net repayment of P0.30 billion.”

“This, however, was partially offset by the P11.57 billion net appreciation of the third currencies against the U.S. dollar,” the BTr said in a statement.

Meanwhile, NG’s contingent debt, composed mainly of guarantees it issued, declined to P577.83 billion last October from month-ago’s P583.39 billion on account of the “combined effects of the P0.86 billion net repayment, P7.70 billion appreciation of the local currency against the US dollar and P3.00 billion net appreciation of the third currencies against the U.S. dollar.”

Year-on-year, however, the contingent debt rose by 3.33 percent from the end-October 2010’s P559.21 billion. (PNA)

scs/JS/utb

NG liabilities reached P4.9 trillion in end-October ‘11

January 13, 2012 11:26 pm 

MANILA, Jan. 13 – Total debt of the national government (NG) expanded by 4.68 percent year-on-year in October 2011 and by 0.57 percent from last September’s level to P4.898 trillion.

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