Gov’t borrowings triple in July due to ODA 98 SHARES Share it! Share TweetBy Chino S. LeycoNational government’s borrowings tripled in July this year owing to higher concessional loans or official development assistance (ODA) from multilateral institutions used to fund the Duterte administration’s P8-trillion infrastructure program. In July, foreign borrowings amounted to P23.07 billion, a significant jump compared with only P1.18 billion in the previous year. Of that amount, P21.39 billion was program loans, equivalent to 92.71 percent of the total financing. But despite the rise, the national government’s end-July gross borrowings were still way below its program for the year of P971.86 billion.

Source: Manila Bulletin September 16, 2018 13:52 UTC