THE GOVERNMENT debt service bill in the first half was P415 billion, up 9.92%, the Bureau of the Treasury (BTr) said.
The payments represent 56.68% of the debt service allocated for 2018, based on the Budget of Expenditures and Sources of Financing (BESF).
Of the total debt payments made in the first half, 60.2% of the total or P250.39 billion, went to settle principal obligations, up 10.41% year-on-year.
Interest payments amounted to P165.51 billion, up 9.19%.
Some 68% or P170.39 billion worth of principal payments went to domestic creditors for maturing bonds, while P80 billion went to foreign creditors.
Some 70% or P114.57 billion worth of interest payments went to domestic creditors while P50.94 billion went to foreign holders of government debt.
In June, the government paid out P30.76 billion, up 22.81% from a year earlier, including P24.07 billion worth of interest, up 24.85% higher from a year earlier.
Of the June interest payments, P19.5 billion went to domestic creditors.
June amortization payments on the other hand totaled P6.69 billion, up 15.96%, with P6.51 billion going to foreign creditors. — Elijah Joseph C. Tubayan
