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4-MONTH DEBT SERVICE RISES 48.86% TO P1.147T n
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Monday, June 3, 2024 Vol. 19 No. 230
P25.00 nationwide | 2 sections 20 pages |
By Reine Juvierre S. Alberto
HE national government’s payment of its domestic and external debts nearly rose by half in the January to April period in 2024 as higher amortization outpaced interest payments, according to the Bureau of the Treasury (BTr).
Latest data from the Treasury showed that the state’s debt service reached P1.147 trillion in the first four months of the year, a 48.86-percent increase or P376.521 billion, from the P770.479 billion recorded in the same period in 2023. Amortization of debt payments, which is the repayment of loan principal over time, rose by 52.38 percent to P887.243 during the four-month period from P582.249 billion posted a year ago. Broken down, domestic and external amortization amounted to P754.770 billion and P132.473 billion, respectively.
Meanwhile, interest payments almost tripled in the four-month period, reaching P260.488 billion, recording a 173-percent growth compared to P95.100 billion in 2023. The government paid P185.305 billion in domestic interest payments and P75.183 billion in foreign interest payments from January to April. For the month of April, however, the government’s debt service declined by 21.03 percent yearon-year to P161.695 billion from P204.763 billion in 2023. See “Debt service,” A2
Pipeline for PPPs now covers 134 projects worth ₧3.03T By Cai U. Ordinario @caiordinario
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HE national government’s pipeline for public private partnerships (PPPs) now covers 134 projects amounting to P3.03 trillion, according to the PPP Center. The pipeline was recently updated to include 13 new projects, estimated to cost at least P38 billion, and delisted four projects. With this, the pipeline is shorter
than the 137 projects initially included which amounted to P3.1 trillion. The four delisted projects were the Cavite Tagaytay Batangas Expressway Project; Unsolicited Proposal for EDSA Bus Rapid Transit (BRT); Unsolicited Proposal for the Development, Operations, and Management of the Davao International Airport; and Advance Passenger Processing and Passenger Name Record (APP-PNR). See “Pipeline,” A2
CEREMONIAL LAYING OF BUOYS Senator Cynthia Villar led the ceremonial laying of buoys at the Verde Island Passage (VIP), the center of global marine biodiversity, in Brgy. Solo Anilao, Mabini, Batangas, on Saturday, June 1, 2024. This event marks the transition from celebrating May as the Month of the Ocean to World Environment Day on June 5. Joining her were Mabini Mayor Milo Villanueva, Assistant Secretary Atty. Julius Yano of DOT-Maritime Affairs, Coast Guard Vice Admiral Rolando Lizor N. Punzalan Jr., Acting Asst. Chief PMaj. Arnold Penales-RMU4A, and environmental lawyer Atty. Antonio Oposa Jr. ROY DOMINGO
CRUISE SHIPS DROP ANCHOR THE MOST IN PALAWAN, BORA By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
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LOSE to 80,000 cruise passengers are projected to arrive in the Philippines from 2024 to 2026, based on a partial report from the Department of Tourism (DOT). The government agency counted 153 port calls by several cruise ships this year until 2025, with 40 to take place from January to June 2025, according to DOT’s cruise schedule report as of May 3, 2024, obtained by the BusinessMirror. For 2024, the actual number of passengers aboard these cruise ships that may make multiple port calls in the country is 50,608, but for January
to June 2025, total passengers are seen reaching 23,963. For 2026, only one cruise ship has been scheduled so far, bringing 3,000 passengers to Manila. The DOT continues to update its cruise schedule report. Data earlier provided by the Bureau of Immigration showed 32 cruise ships dropped anchor in the Philippines last year, bearing 55,442 cruise passengers. In prepandemic 2019, there were 102 cruise ships that visited the Philippines. Manila is the most popular destination this year, and will receive 34 ship calls, but for areas outside Manila, the Palawan capital of Puerto Princesa tops the list with 13 calls, followed by Coron, also See “Cruise ships,” A2
Hot money inflows post lowest level in 6 months
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OT money inflows posted their lowest level in six months and, for the first time, fell below a billion dollars this year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP). BSP said the transactions on foreign investments registered with the BSP, through authorized agent banks, recorded gross inflows of $914 million in April 2024. With gross outflows exceeding inflows at $1.2 billion, the country recorded net outflows of $312 million in April 2024. This is higher than the $236 million net outflows recorded in March 2024. “These investments refer to the following inward foreign investments registered with authorized agent banks: PSE-listed securities; Peso-denominated government securities; Peso time deposits with banks with minimum tenor
of 90 days; other Peso debt instruments; unit investment trust funds; and other instruments such as Exchange Traded Funds and Philippine Depositary Receipts,” BSP said. BSP said, however, hot money registration between January and April 2024 yielded net inflows of $65 million, a turnaround compared to the $680-million net outflows noted for the same period last year. “Registration of said investments with the BSP, through the authorized agent banks, may not necessarily coincide with either trade or settlement date of the underlying transaction, and thus, such registration may be effected even after the actual foreign investment transaction has long been completed,” BSP said. Continued on A4
PESO EXCHANGE RATES n US 58.6200 n JAPAN 0.3739 n UK 74.6584 n HK 7.4990 n CHINA 8.1056 n SINGAPORE 43.4512 n AUSTRALIA 38.8709 n EU 63.5148 n KOREA 0.0427 n SAUDI ARABIA 15.6295 Source: BSP (May 31, 2024)