THE GOVERNMENT’S debt service bill was nearly P100 billion in July, more than doubling the year-earlier total, the Bureau of the Treasury said.
National government debt service amounted to P99.46 billion against the P42.08 billion paid in July 2016.
Some P55.03 billion went to principal payments while P44.63 billion went to interest liabilities.
In the first seven months, debt service fell 13.07% year on year to P478.03 billion.
The seven-month total is equivalent to 73.85% of the P647.28 billion programmed for debt payments this year.
The government is seeking to maintain an 80-20% borrowing mix in favor of domestic creditors until 2022. — Elijah Joseph C. Tubayan