BTr says national govt intends to borrow P117B

The national government plans to borrow P117 billion between April and June this year, in an effort to cap the budget deficit within P300 billion, the Bureau of the Treasury (BTr) said in a statement Wednesday. The borrowing program for the second quarter is P3 billion or nearly 3 percent higher than in the first quarter, the bureau said. The BTr said the government intends to sell P63 billion worth of Treasury bills and P54 billion in T-bonds from April-June. To finance its budget deficit, the government usually issues Treasury bills and bonds. The budget deficit last year hit P314.4 billion or 3.7 percent of the country’s economic output. — JE/VS, GMA News