By Joann Villanueva
Economic managers await the go signal of President Benigno Aquino III on the adjustment in this year’s national government (NG) borrowing program.
The inter-agency Development Budget Coordination Committee (DBCC) is considering raising this year’s borrowing program to P765 billion from the previous program of P708.6 billion.
Under the current borrowing program, some 70 percent, or about P488.1 billion, of the total would come from domestic sources, while the remaining 30 percent, or about P220.5 billion, from foreign sources.
Under the proposed increase in the borrowing program, domestic funding will amount to P511 billion while foreign borrowing will rise to P254 billion.
“These figures are not yet official. While DBCC already adjusted the program it has to be approved by President Aquino,†National Treasurer Roberto Tan told reporters Tuesday.
The higher borrowing is eyed to be sourced from among others the issuance of retail treasury bond (RTBs) and the proposed dollar-denominated Peso Bond.
Tan said they have not receive the mandate on the RTBs but they are already finalizing the assessment and getting proposals on this.
He said they plan to offer a one-week issuance period for the debt instrument within this quarter but the amount is still being studied.
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