Gov't to borrow P215B  locally in August | Inquirer Business

Gov’t to borrow P215B  locally in August

By: - Reporter / @bendeveraINQ
/ 12:36 AM July 28, 2022
National treasurer Rosalia de leon

National Treasurer Rosalia de Leon. INQUIRER FILE PHOTO

The Bureau of the Treasury (BTr) will borrow a total of P215 billion from local creditors in August, keeping the same weekly auction volumes of T-bills and bonds as those in the previous months.

In a memorandum to government securities eligible dealers (GSEDs) on Wednesday, National Treasurer Rosalia de Leon said the treasury bill offerings during the five Mondays of August will still  total of P15 billion across the three tenors.

ADVERTISEMENT

The BTr will offer P5 billion each in benchmark 91-, 182-, and 364-day debt paper on Aug. 1, 8, 15, 22, and 29.

As for treasury bonds, the BTr will continue to offer P35 billion worth every Tuesday.

FEATURED STORIES

To be offered on Aug. 2 will be 3.5-year bonds;  seven-year on Aug. 9; 10-year on Aug. 16, and 5.5-year on Aug. 23.

The national government will borrow a total of P2.2 trillion this year, of which three-fourths or P1.65 trillion would be raised via the issuance of treasury bills and bonds. It sources the bulk of its budget financing locally to take advantage of a liquid financial system while tempering foreign exchange risks.

This year’s borrowings will increase the national government’s outstanding debt to a record-high of P13.4 trillion by year-end, such that the debt-to-gross domestic product (GDP) ratio will end 2022 at 61.8 percent, further up from the 16-year-high of 60.5 percent in 2021.

From 2023 to 2028, the Marcos administration plans to raise a larger 80 percent of its yearly borrowing requirements from the domestic debt market. The more ambitious annual GDP growth target of 6.5-8 percent for 2023 to 2028 would gradually bring down the public debt ratio, to reach 52.5 percent by 2028.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: August, borrowing, Government, T-bills, t-bonds
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.