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Gov't 2022 debt down on peso appreciation, economic recovery - Vimarsana News

Gov't 2022 debt down on peso appreciation, economic recovery

Published: February 2, 2023

DROP IN LIABILITIES. The national government's total liabilities went down in December 2022 compared to the previous month's level due in part to the peso appreciation and the continued robust growth of the domestic economy. Rizal Commercial Banking Corp. chief economist Michael Ricafort said Thursday (Feb. 2, 2023) he expects the sustained growth of the domestic economy and the impact of tax and other fiscal reform measures to be of advantage to the improvement in the share of debt to economic growth. (PNA file photo) MANILA - The continued recovery of the domestic economy, along with...

Source: philippinetimes.com
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San CarlosNegros OccidentalMichael RicafortBureau Of The Treasury BtrRizal Commercial Banking CorpCommercial BankingRetail Treasury BondsDrop In Liabilities The National Government 39s Total Went Down December 2022 Compared To Previous Month Level Due Part Peso Appreciation And Continued Robust Growth Of Domestic Economy Rizal Commercial Banking Corp Chief Economist Michael Ricafort Said Thursday Feb 2023 He Expects The Sustained Growth Of Domestic Economy And Impact Tax Other Fiscal Reform Measures To Be Advantage Improvement In Share Debt Economic Pna File Photo Manila Continued RecoveryLong With The Strengthening Of Philippine Peso Against Us DollarElped Reduce The Peso Value Of National Government 39s Ng Total Liabilities By End 2022 To Php13 42 Trillion Compared Previous Month Bureau Treasury Btr Said Thursday Full Year Debt Went Down Php225 31 BillionR 1 7 PercentRom Php13 64 Trillion By End November Last YearLso Due To The Net Redemption Of Domestic Government Securities Gs HoweverG Debt Grew By 14 4 PercentR Php1 69 TrillionOmpared To Php11 73 Trillion In End 2021 Of The TotalOmestic Debt Accounted For 68 62 Percent Of The Total Last Year Amounting To Php9 21 Trillion Domestic Declined By 2 3R Php219 58 BillionOmpared To Php9 43 Trillion As Of End November Last Year The Btr Attributed Decline Net Redemption Php217 95 Billion Worth Gs And Peso AppreciationHich Reduced By Php1 63 Billion The Peso Value Of Foreign Currency Denominated Liabilities Debt Accounted For 31 38 Percent Ng Amounting To Php4 21 Trillion As End 2022Ower By Php5 73 Billion From The End November 2022 Level It Has Increased Php652 34 Since Start OfT Said The Btr Currency Adjustments Due To Appreciation Of Peso Against Dollar Reduced Foreign Debt By Php58 34 Billion It Improvement Level Ng Last December And Continued Robust Growth Domestic Economy Resulted In Decline Country 39s Gdp Gross Product Expanded 7 2 Percent Quarter 2022 6 For Full Year Share Liabilities Output Went Down 60 9 As End From 63 At Third Is Lower Than 61 8 Target Government Medium Term Fiscal Framework Quot This Reflects Consistent Drive Bolster Sustainability Through Prudent Cash Management Backed Resurgent EconomicUot The Btr Said Rizal Commercial Banking Corp Chief Economist Michael Ricafort He Expects Sustained Growth Of Domestic Economy And Impact Tax Other Fiscal Reform Measures To Be Advantage Improvement In Share Debt Economic Quot More Disciplined Government Spending Would Help Further Reduce Improve Gdp Ratio Below 60 Percent International Threshold Sustain Country 39s Favorable Credit Ratings At 1 3 Notches Above Minimum Investment GradeUot He Said Ina Report On Thursday Ricafort Government Debt Is Expected To Further Increase In The Coming Months Line With 39s Plan Issue New Peso Denominated Retail Treasury Bonds Rtbs And Us Dollar As Part Of Program Raise Necessary Financing For Various Programs Projects Thus Needs Quot Intensify Tax Revenue Collections Based Existing Laws