The Philippine government closed the year 2022 with a trimmed running debt balance, thanks to a stronger peso and repayment of maturing obligations in December last year, data from the Bureau of the Treasury (BTr) on Thursday showed.
The end-December 2022 outstanding stood at P13.418 trillion, down 1.7% or by P225.31 billion from the end-November 2022 level ofYear-on-year, the government’s debt stock grew by P1.69 trillion or 14.4% from P11.73 trillion as of end-2021.
Sought for comment, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the dropped in the running debt balance as of end last year “may have to do with the 1.4% appreciation of the peso that reduced the peso equivalent of US dollar/foreign debts as well as the large maturities of government securities/Treasury bonds, essentially repayment of some government debts.”
“Moreover, local currency appreciation against the US dollar trimmed P1.63 billion from the peso value of foreign currency denominated domestic debt,” the Treasury added. “This offset the net impact of third-currency fluctuations against the US dollar amounting to P34.07 billion and the P18.54 billion net availment of foreign loans,” it added.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine debt stock down to P13.42T at end-2022The Philippine national government’s debt stock eased to P13.42 trillion as of Dec. 31 from P13.64 trillion on Nov. 30, thanks partly to the appreciation of the peso against the US dollar, according to the Bureau of the Treasury. | RonWDomingoINQ /PDI
Read more »
Aboitiz-owned bank credits ICT for high 2022 numbers | Cai U. OrdinarioTHE shift to mobile and digital banking boosted the performance of the Union Bank of the Philippines (UBP) in 2022. In a disclosure to the Philippine Stock Exchange (PSE), the Aboitiz-owned bank reported a net income of P12.7 billion in 2022. Unionbank disclosed that its net revenues reached a record…
Read more »
DA: 100,000 MT onions lost in 2022 due to lack of cold storage, improper handlingThe Department of Agriculture has recorded the loss of some 100,000 metric tons of onions in 2022, a news release on the department&39;s website indicated. According to the DA, the thirty-five percent loss was "noted after harvest due to lack of facilities such as cold storages and improper handling."
Read more »
Acer Predator tops market share for Gaming Notebook category for 2022!
Read more »
Hungary most corrupt EU member in 2022 — watchdogHungary slid to bottom place among EU nations in a corruption index, with graft watchdog Transparency International on Tuesday alleging misuse by "political elites" of state and bloc funds.
Read more »
PH third among countries with widest 5G rollout in 2022
Read more »