MANILA, Philippines — The national government spent more on debt payments in the first quarter of the year as both interest and principal payments increased, the Bureau of the Treasury (BTr) reported. According to Treasury data, P112.41 billion of the total debt payments in the first quarter went to amortization, while P107.77 billion was used for interest payments. Meanwhile, interest payments for the January to March period likewise climbed by 10.92 percent to P107.77 billion from P97.16 billion in the same period in 2018. Debt payments form part of the government’s expenditures. For 2019, the national government is programmed to spend P887.91 billion for debt service or 14.5 percent higher than the actual debt payments made last year.

Source: Philippine Star June 12, 2019 16:00 UTC