Domestic financing drives double-digit increase in government borrowings in April

The government’s borrowings in April recorded a double-digit year-on-year increase, primarily driven by an upswing in domestic financing.

Data released by the Bureau of the Treasury (BTr) showed that the government’s gross borrowings for the month rose 28.29 percent to P129.91 billion.

Local borrowings jumped 44.82 percent to P96.13 billion while foreign financing registered a decline of 3.16 percent to P33.78 billion.

Year-to-date, the government’s gross borrowings totaled to P1.11 trillion. This translates to a decline of 6.23 percent from the P1.18 trillion recorded in the same four-month period in 2022.