6 THE ECONOMY EDGEDAVAO
VOL. 6 ISSUE 111 • SUNDAY - MONDAY, AUGUST 18-19, 2013
EDGEDAVAO
PHL debt surges by 6.9% in June l
iaBilitieS of the national government rose by 6.9 percent year-on-year to P5.45 trillion in end-June this year from P5.10 trillion same period last year, the Bureau of treasury (Btr) reported Friday. the growth from last May’s P5.36 trillion is 1.6 percent, Btr data showed. Bulk of the debt is accounted for by funds from on-shore creditors at P3.50 trillion while the balance of P1.95 trillion came from foreign fund sources. in particular, the domestic debt rose by 14.8 percent from year-ago’s P3.05 trillion and by 1.2 percent from the previous month’s P3.46 trillion. the Btr attributed the month-on-month increase in the debt to the “combined effect of the P42 billion net issuance of government securities, the P1 billion impact on multicurrency rtBs (retail treasury bond) of the peso depreciation against the uS dollar and the euro, and a P2 billion reversion of national government-assumed domestic liabilities, which have been inactive for 25 years.”
on the other hand, the foreign liabilities contracted by 4.9 percent from the P2.04 trillion in end-June 2012 but rose by 2.5 percent from the end-May 2013 level of P1.90 trillion. the drop from last May’s level was traced to the weakening of the peso against the dollar, which in resulted to the expansion of the value of the debt by P52 billion, and the net appreciation of other currencies against the greenback, which pushed foreign debt by P5 billion. “However this was partially offset by the P10 billion net payment,” the Btr said. relatively, total guaranteed liabilities of the national government contracted by 9.9 percent to P491 billion last June from year-ago’s P545 billion. it, however, rose by 2.4 percent from monthago’s P479 billion due to peso depreciation and appreciation of third currencies against the dollar. of the total, domestic guaranteed debt reached P144 billion, same as month-ago’s level but lower by 7.4 percent than
BANANAQUE. This tourist is not only here for the activities of Kadayawan Festival but also for the bananaque available in almost all street corners in Davao City. Lean Daval Jr. year-ago’s P156 billion. also, guaranteed foreign liabilities contract-
ed by nearly 11 percent year-on-year to P347 billion from P389 billion at
the end of the first half of 2012. it, on the other hand,
rose by 3.3 percent from last May’s P336 billion. [Pna]