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MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
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2024 Mid-Year Economi Briefing, economic growth in the Philippines
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June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: Closer to BSP’s Goldilocks moment
October 9, 2025 DOWNLOAD
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Economic Updates
Inflation Update: Speeds up but remains below target
October 7, 2025 DOWNLOAD
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Monthly Economic Update: Fed back on track   
October 3, 2025 DOWNLOAD
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BusinessWorld 2 MIN READ

Gov’t to borrow PHP 200B from domestic market

January 24, 2023By BusinessWorld
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THE NATIONAL government (NG) plans to borrow P200 billion from the domestic market in February, the Bureau of the Treasury (BTr) said on Tuesday.

The BTr released its borrowing plan for February, which is unchanged from this month’s program. The government raised PHP 212.4 billion from domestic borrowings this month, higher than the programmed PHP 200 billion. 

The BTr said it will borrow P60 billion in Treasury bills (T-bills) and PHP 140 billion in Treasury bonds (T-bonds) next month.

The Treasury will offer PHP 5 billion worth of 91-day, 182-day, and 364-day T-bills on Jan. 30, Feb. 6, 13 and 20.

For the long-term tenors, the BTr is looking to raise PHP 35 billion from 13-year T-bonds on Jan. 31, and PHP 35 billion from five-year T-bonds on Feb. 7. It is also eyeing to generate PHP 35 billion from three-year instruments on Feb. 14; and PHP 35 billion in 10-year bonds on Feb. 21.

“The PHP 200-billion (government securities) auctions for February 2023 (are the) same as the target for January 2023 but the National Government’s borrowing costs would be lower in view of increased bids/demand recently,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

A trader said the borrowing mix was expected as “the demand in recent auctions and drastic drop in rates allows BTr to take advantage by lengthening the maturity of their borrowings.”

Mr. Ricafort noted some of the T-bond auctions in February could be canceled if the government pushes through with a retail Treasury bond (RTB) offering.

In a financial literacy session before Filipino migrants in Frankfurt on Jan. 22, National Treasurer Rosalia V. de Leon said the government is planning to launch the country’s second retail dollar bond offering. No other details were available.

For this year, the gross domestic borrowing program is set at PHP 1.654 trillion, composed of PHP 54.1 billion in T-bills and PHP 1.6 trillion in fixed-rate T-bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 6.1% of GDP this year. — Aaron Michael C. Sy

This article originally appeared on bworldonline.com

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