Gov't borrowed 42.6% less at P130 B

The government slashed its borrowings by 42.6 percent to nearly P130 billion in October, following declines in debt from foreign markets.

- - Keisha Ta-asan

Latest data from the Bureau of the Treasury showed total borrowings for October went down to P129.26 billion from the P225.20 billion in obligations in the same month last year.

Broken down, borrowings from external lenders stood at P61.8 billion, while that of domestic debt reached P67.46 billion.

Borrowings from domestic sources fell by 61.4 percent from P174.63 billion in the same period last year. It also accounted for 52.1 percent of total debt in October.