MANILA -- The Bureau of the Treasury (BTr) is scheduled to issue a total of PHP230 billion-worth of government securities in the third quarter of this year, PHP70 billion lower than the programmed issuance for this quarter.
Data posted on the BTr website on Wednesday showed that a total of PHP90 billion worth of Treasury bills (T-bills) will be offered from July to September, lower than the PHP180 billion in the previous quarter.
T-bills auction in the coming quarter will be held twice a month unlike this quarter, which is on a weekly basis.
Meanwhile, treasury bond (T-bond) offering in the coming quarter amounts to PHP140 billion, higher than the PHP120 billion this quarter.
The increased volume was due to the higher number of auctions in the third quarter, seven compared to the six auctions this quarter.
Earlier, National Treasurer Rosalia De Leon said third quarter borrowing, through the regular T-bills and T-bond auctions, will be lower because of the lower disbursements in the first half of the year due to the delay in the approval of this year’s national budget.
She, however, said that the government’s infrastructure spending catch-up is on schedule based on the reports from the Department of Transportation (DOTr) and the Department of Public Works and Highways (DPWH). (PNA)
