GROSS BORROWINGS declined by 24.5% year on year as of end-November, preliminary data from the Bureau of the Treasury (BTr) showed.
GROSS BORROWINGS declined by 24.5% year on year as of end-November, preliminary data from the Bureau of the Treasury showed.
In November alone, gross borrowings surged by 266.7% to P97.9 billion from P26.7 billion in the same month of 2021. However, it was 64.6% lower than the P176.56 billion logged in October. Meanwhile, foreign gross borrowings reached P21.96 billion during the month, up 117.4% from P10.1 billion a year earlier. This consisted entirely of project loans, with no recorded foreign program loans or bonds.In the first 11 months of 2022, gross domestic borrowings fell by 28.4% to P1.61 trillion from P2.25 trillion in the previous year.
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