THE national government logged a decrease in its debt payments in April compared to a year earlier as interest payments declined, according to Bureau of the Treasury data.
At P161.7 billion, debt servicing in April was 21-percent lower than the P204.76 billion recorded a year earlier. It is also substantially lower than March 2024's P533.52 billion.
Amortizations still accounted for the bulk at P94.2 billion, significantly lower than the year-earlier P158.51 billion and the P462.58 billion in March.
The remaining P67.5 billion was for interest payments, higher than the P46.25 billion posted in April last year but down from March's P70.94 billion.
Domestic amortization accounted for almost all amortization expenses at P55.1 billion. This was markedly lower than the P153.96 billion and P455.91 a year ago and in the previous month, respectively.
Amortization for foreign loans, meanwhile, rose to P39.10 billion in April from P4.55 billion last year and P6.67 billion in March.
As for interest payments, P46.43 billion — up from P27.75 billion a year earlier — went to local creditors. In the previous month, these were lower at P55.71 billion.
Foreign interest payments, meanwhile, rose to P21.07 billion in April from P18.50 billion 12 months earlier. It was also higher than the P15.24 billion recorded in March of this year.
Year-to-date, government debt payments were 48.96 percent higher at P1.15 trillion from January-April 2023's P770.48 billion.
The bulk was again used for amortization, amounting to P887.24 billion, while the remaining P260.49 billion went to interest payments.
The national government's outstanding debt hit P15.02 trillion in April due to the peso's depreciation.
Some P91.5 billion was added to the debt tally — up from P14.92 trillion in March and now P1.1 trillion more than it was a year earlier and P401 billion higher from the start of the 2024 — but it was still lower than the record P15.18 trillion posted in February.
Of the total debt stock, 31.36 percent was borrowed abroad while 68.64 percent was sourced domestically.
Domestic borrowings totaled P10.31 trillion as of end-April, 0.3 percent higher compared to a month earlier.
External debt totaled P4.71 trillion, 1.30 percent or P60.49 billion higher month-on-month.