The national government’s total debt payments has amounted to P1.13 trillion as of end-November 2021, data released by the Bureau of the Treasury (BTr) showed.
According to the latest cash operations report, the national government’s debt payments in the 11-month period of last year was 27.62 percent higher than the P888.69 billion paid out in the same period the prior year.
The January to November figure has also exceeded the full-year 2020 debt payments of P962.47 billion.
Amortization jumped by 37.19 percent to P732.06 billion from the P533.61 billion paid out in the same period the previous year.
Of the total principal payments made during the period, P501.18 billion was used to pay local lenders while P230.88 billion was spent to settle foreign obligations.
Meanwhile, interest payments as of November totaled to P402.11 billion, 13.24 percent higher than the P335.07 billion paid out as of the same period the previous year.
Of the said amount, P309.15 billion was paid to domestic creditors while P92.95 billion was for international debt.
For the month of November, debt payments rose by 203.28 percent to P81.24 billion from P26.79 billion the prior year.
Amortization amounted to P50.02 billion while interest payments accounted for P31.22 billion.
For this year, the government’s debt service expenditures is programmed at P1.3 trillion.
Of the said amount, P512.59 billion will be accounted for by interest payments, while P785.21 billion will be for amortization. (Malaya Business Insights News)
