The government’s gross borrowings saw an increase of over 50 percent in the first two months of the year amid the successful sale of retail treasury bonds (RTBs) as well as its triple-tranche US dollar bond offer.
Gross borrowings from January to February jumped to P742.11 billion from only P492.25 billion from the previous year.
Domestic borrowings surged to P538.56 billion from P390.55 billion a year ago, with fixed-rate treasury bonds comprising P231.68 billion and treasury bills amounting to P23.18 billion.
The government also successfully raised P238.71 billion from its 5.5-year RTB sale in February.
On the other hand, the gross external borrowings during the same period reached P203.55 billion, double the P101.7 billion recorded the previous year.
According to the report, project loans amounted to P21.72 billion, while program loans accounted for P18.22 billion.
Additionally, the government raised P163.61 billion from its global bond issuance in January.
In 2022, the government also issued RTBs and had a global bond offer in the first quarter, however, these were both done in March.