The government’s gross borrowings jumped by two-thirds to P505.76 billion in the first half of 2017 on the back of the issuance of retail treasury bonds (RTBs) to small investors early this year. ILLUSTRATION FROM TREASURY-BONDS-NOTES.COM
The government’s gross borrowings jumped by two-thirds to P505.76 billion in the first half on the back of the issuance of retail treasury bonds (RTBs) to small investors early this year.
From January to June, total borrowings exceeded by 66 percent the P304.184 billion borrowed from domestic and external sources in the same six-month period last year, the latest Bureau of the Treasury data showed.
In the first half, gross domestic borrowings from the sale of treasury bills and bonds more than doubled to P366.551 billion from P170.51 billion a year ago.
RTBs worth P181.852 billion accounted for almost half of local debt in the first six months.
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To recall, the Treasury awarded P70 billion in three-year RTBs to banks during the rate-setting auction on March 28, while the general investing public snapped an additional P111 billion during the public offer period last March 28-April 7.
The Treasury had said the RTBs attracted a total of P500 billion in tenders, making the IOUs oversubscribed by over 16 times the initial issue size of P30 billion.
