February 3, 2021 | 9:00 pm Font Size
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THE MAIN INDEX ended in negative territory on Wednesday following news on the governmentâs outstanding debt and as investors booked their profits after the marketâs two-day rally.
The benchmark Philippine Stock Exchange index (PSEi) fell 8.42 points or 0.12% to finish at 6,859.46, while the broader all shares index dropped 0.91 points or 0.02% to end at 4,143.26.
Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the market ended lower following the release of data on the governmentâs outstanding debt.
âConcerns over the jump of our national governmentâs outstanding debt and its possible repercussions to the economy weighed on (market) sentiment,â Mr. Tantiangco said.
February 3, 2021 | 12:33 am Font Size
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THE National Governmentâs (NG) outstanding debt reached P9.8 trillion at the end of December 2020, pushing the debt-to-GDP ratio to the highest in over a decade, as it borrowed more to fund the pandemic response.
The Bureau of the Treasury (BTr) on Tuesday reported last yearâs debt stock jumped by 26.7% from P7.731 trillion at the end of 2019, due to âhigher funding requirements to respond to the coronavirus disease 2019 (COVID-19) pandemic.â
Month on month, the BTr said the debt stock went down by 3.3% from the end-November level of P10.13 trillion after the government settled its outstanding loans to the central bank.
BTr sells P6 56 billion in Premyo bonds bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.