Gov't cuts debt payments by P524B

Despite a sharp increase in the national government's debt payments in April, over half a trillion pesos was trimmed from total payments in the first four months of the year, leading to a 45.7 percent decline by end-April.

- By DERCO ROSAL

Data from the Bureau of the Treasury (BTr) showed that the Marcos administration's total debt financing only amounted to P622.9 billion from January to April, a decline of P524 billion compared to the P1.15 trillion recorded in the same period last year.

A sharp drop in principal payments or amortization significantly contributed to the massive decline.

It fell to P335.5 billion, starkly contrasting with the P887.2 billion the Marcos administration paid in the first four months last year. This is equivalent to a P551.7 billion or 62.2-percent drop.