Gov't Borrowings Decline 12% in July

The national government's borrowing in July declined by nearly 12 percent compared to the same month last year, with data showing reduced reliance on domestic sources even as external borrowing posted an increase.

- MARCO LUIS BEECH

Based on documents from the Bureau of the Treasury (BTr), the country's gross borrowing declined to P166.1 billion from P188.7 billion a year ago.

Gross external debt added P5.5 billion to its pile of P13.6 billion, which is equivalent to a nearly 70 percent increase from the P8 billion recorded in July last year.

On the other hand, gross domestic borrowing declined by 15.5 percent to P152.5 billion from P180.6 billion a year ago.