Govt debt payments shrink in July

govt debt payments shrink in july

Sumary of Govt debt payments shrink in July:

  • Lower interest payments and amortization expenditures reduced the national government’s debt servicing in July compared to payments made a year earlier, according to data issued by the Bureau of the Treasury (BTr).
  • Interest payments fell 0.60 percent year-on-year, from P59.38 billion to P59.02 billion, accounting for 97.50 percent of total servicing.
  • Domestic interest payments increased by 7.24 percent to P36.87 billion in the month, up from P34.38 billion the month before, while external interest payments plunged by 11.39 percent to P22.14 billion, shrinking from P24.99 billion the year before.
  • Debt payments were $834.32 billion in the first seven months of this year, with interest payments totaling P267.55 billion and amortization reaching P566.76 billion.
  • Amortization will cost P758.32 billion, with interest payments totaling P531.55 billion.

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