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PH debt payments 25.5% lower in H1 ‘17

The Philippine government paid PHP378.37 billion in debts in the first half of 2017, about 25.5 percent lower than the amount posted in same period last year due to lower amortization and interest payments.

Bureau of the Treasury (BTr) data show that the amount paid for amortization fell 35.95 percent as of end-June this year to PHP 226.79 billion compared to year-ago’s PHP354.08 billion.

Interest payment in the first six months this year totalled to PHP151.58 billion, down 1.39 percent against the PHP153.7 billion same perod last year.

For last June alone, however, debt payment ticked-up 7.9 percent to PHP 25.04 billion over year-ago’s PHP23.21 billion while amortization amounted to PHP5.77 billion, higher than the PHP5.54 billion same period last year.

During the same month, interest payment amounted to PHP19.27 billion, 9.1 percent higher than year-ago’s PHP17.67 billion.

In 2016, the government’s debt service amounted to PHP789.97 billion.

Joann Villanueva / PNA