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Manila Bulletin devider Business devider Gov't to borrow P585 B locally in Q1 next year

Gov't to borrow P585 B locally in Q1 next year

Published Dec 20, 2023 07:22 am

At A Glance

  • The national government plans to borrow P585 billion from the domestic market in the first quarter of the next year to address its budget deficit.<br>Based on the Treasury's quarterly local borrowing plan, the Marcos administration plans to sell P195 billion worth of short- and long-term IOUs in January, P210 billion in February, and P180 billion in March.<br>Treasury bills will be auctioned every Monday, while Treasury bonds will be auctioned on Tuesdays.<br>The Marcos administration plans to borrow a total of P2.46 trillion in 2024 to help fund a P5.77-trillion spending program, with an expected budget deficit of P1.395 trillion.

The Bureau of the Treasury announced that the national government is set to borrow P585 billion from the domestic market in the first three months of next year to cover its budget shortfall.

Based on the Treasury’s quarterly local borrowing plan, the Marcos administration plans to issue P195 billion in short- and long-term IOUs in January, P210 billion in February, and P180 billion in March.

The national government has scheduled auctions for Treasury bills (T-bills) every Monday, and Treasury bonds (T-bonds) every Tuesday.

Throughout the quarter, the Treasury will maintain its offerings of P5 billion worth of each 91-day, 182-day, and 364-day T-bills, along with P30 billion of T-bonds on a weekly basis.

The government has scheduled T-bill issuances for Jan. 3, 10, 17, 24, and 31, as well as for Feb. 7, 14, 21, and 28. 

Additionally, T-bills will be issued on March 7, 14, 21, and 28.

The Treasury's issuance schedule for T-bonds with varying tenors includes plans to issue three-, five-, seven-, and 10-years on Jan. 4, 11, 18, and 25, respectively. 

Additionally, it will offer three-, five-, seven-, 10, and 20-year debt on Feb. 1, 8, 15, 22, and 29. 

Finally, the issuance of three-, five-, seven-, and 10-year debt papers is planned for March 7, 14, 21, and 28.

In 2024, the Marcos administration plans to borrow a  total of P2.46 trillion to support a P5.77-trillion expenditure program. 

The national government, meanwhile, expects a budget deficit of P1.395 trillion for next year.

Related Tags

Treasury bonds Treasury bills government borrowings Bureau of the Treasury
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