Private-sector borrowing in August rises by 4.6 percent

By Maricel Burgonio

Oct 02, 2004 10:26 am

PRIVATE-sector borrowing in August rose 4.6 percent, or higher than the 4-percent growth seen the month before, but this failed to buoy the expansion of the country's money supply, as domestic liquidity rose at a slower 6.1 percent compared with the 6.7 percent in July.

In a statement, the Bangko Sentral ng Pilipinas said the country's money supply rose to P1.72 trillion in August owing to the increase in the financial system's net-foreign assets and the steady growth of public-sector borrowing.

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