MANILA, Philippines — The national government borrowed P44.4 billion from both domestic and foreign lenders last July, data from the Bureau of the Treasury showed. Government borrowings rose more than three times to P44.4 billion in July from the P14.21 billion in the same month last year. For July alone, P23.07 billion of the total borrowings came from foreign lenders, a significant increase over the P1.18 billion borrowed externally in the same month last year. Year-to-date, foreign borrowings reached P178.9 billion, 27.43 percent up from last year’s level of P140.39 billion. In the first seven months, domestic borrowings declined by 14 percent to P326.36 billion from P379.58 billion last year.

Source: Philippine Star September 16, 2018 15:33 UTC