Gov’t adds billions to its 2022 debt pile

Friday, December 23, 2022 | 200 Views |

Government embarked on an aggressive debt drive this year piling on billions of Pula more in borrowings from the local capital market and external financiers to plug the budget deficit and finance economic transformation.

Since the beginning of the financial year in April, the government raised P9.59 billion from the domestic capital market, with interest rates rising throughout the period.

However, it was the forays into external, foreign currency-denominated debt that dominated headlines around government’s debt programme.

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