The Philippine government plans to raise a total P150 billion from the domestic capital market through the weekly auction of treasury bills and bonds in October.
The fund-raising will support the budget that was in deficit by P732.5 billion in the eight months to August. It was narrower than the P833 billion post in the same period in 2022.
The Bureau of Treasury announced it will auction P15 billion worth of treasury bills—P5 billion each for three-, six- and 12-month maturity—every Monday of October, except on 30 October when election for Barangay officials will be held. In all, the bureau will offer P60 billion in treasury bills during the month.
The National Treasury has scheduled three Tuesday auctions to offer P60 billion—P20 billion for 5-year bond on 12 October, P20 billion for 7-year debt paper on 19 October, and P20-billion for 10-year bond on 26 October.
The government won’t hold a bond auction next week as its offer of 5.750 percent, 5.5-year retail onshore dollar bond will only close on 6 October. Meantime, 31 October has been declared a national holiday to allow those going to the province the time to honor their departed loved ones.
