Marcos slashes debt payments by P5I7 billion

Despite some improvements in the national government’s debt payments in May, over half a trillion pesos was still slashed from total payments in the first five months of the year, resulting in a 42.4 percent decline by end-May.

- By DERCO ROSAL

Data from the Bureau of the Treasury (BTr) showed that the Marcos administration’s total debt financing only amounted to 703 billion from January to May, a decline of #517 billion compared to the P1.22 trillion recorded in the same period last year.

Like last month, a sharp drop in principal payments or amortization significantly contributed to the massive decline.

It fell to P345.6 billion, starkly contrasting with the 895.1 billion the Marcos administration paid in the first five months last year. This is equivalent to a P549.5 billion or 61.4-percent drop.