Domestic Borrowings 1987 to 2005

While the preceding post compares foreign borrowings among the different post-EDSA Philippine governments, this one does the same for domestic borrowings. The source data is the same (courtesy of PCIJ). In addition, all the nominal peso values where divided by the GDP deflator* for each year.

Domestic Borrowings 1987 to 2005

Year	Billions (PHP) nominal	GDP Deflator (1985=100)	Billions (PHP) adjusted
1987	58.62	110.7	52.95
1988	47.34	121.3	39.03
1989	37.21	132.3	28.13
1990	30.10	149.5	20.13
1991	64.72	174.2	37.15
1992	148.15	188.0	78.80
1993	-16.99	200.8	-8.46
1994	4.62	220.9	2.09
1995	58.65	237.6	24.69
1996	62.58	255.8	24.47
1997	-2.43	271.7	-0.89
1998	105.31	300.1	35.09
1999	160.45	324.2	49.49
2000	145.33	344.8	42.15
2001	206.36	366.8	56.26
2002	235.99	383.3	61.57
2003	290.28	397.3	73.06
2004	383.78	421.2	91.12
2005	396.82	446.6	88.85

*Source of GDP deflator values: here and here.


Graphically represented above, it can clearly be seen that the Arroyo Government, compared to previous administrations, has been the most aggressive by far in terms of domestic borrowings. The average domestic borrowings per year per administration are as follows:

Cory Aquino - 35.48 Billion Pesos** per year
Fidel Ramos - 20.11 Billion Pesos per year
Erap Estrada - 42.24 Billion Pesos per year
Gloria Arroyo - 74.17 Billion Pesos per year (so far)
**1985 equivalent

Something to keep in mind everytime the Arroyo admin congratulates itself in its management of the budget deficit.

Update 03-25-2007: Over at mlq3's, an informative discussion on Budget related matters here (by hvrds, Ca T, Justice League, MB etc).

Update 08-13-2008: Related updates from the PCIJ.