Govt debt payments to increase by P7bn
Friday, February 10, 2023 | 120 Views |
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Peggy Serame PIC: THALEFANG CHARLES
According to draft budget estimates made available this week, the Ministry wants to set aside P17.1 billion for the repayment of interest and principle on various domestic and external loans in the upcoming financial year. This compares to P10.4 billion budgeted for the current financial year, which ends on March 31.
The loans include the payment of P3 billion to settle a local bond maturing in June this year. To finance the P7.6 billion deficit forecast for the upcoming fiscal year, government plans to raise a net of P3 billion from the local capital market and another P2.7 billion from external lenders.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...