Gov’t eyes borrowing P714.6-B for 2014

Rappler.com
Government intends to borrow from the local market to help stem the appreciation of the peso

MANILA, Philippines – Government is contemplating to borrow P714.6 billion in 2014, lower than this year’s P735 billion.

Planned borrowing for next year is 2.78% lower than 2013.

About 87% of this year’s borrowing requirements will be sourced from the domestic market via Treasury bills and bonds issuances, while 13% will come from foreign sources.

This translates to about P620 million from the local market, which remains very liquid. About P95 billion will come from foreign bond flotations or official development assistance.

Finance Secretary Cesar Purisima had earlier said government will source this year’s borrowings locally to help stem the appreciation of the peso. – Rappler.com

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