Govt to put multi-billion pula bond on hold

Friday, June 18, 2010

Government has created room to delay the planned multi-billion pula bond issue to later in the year as it has scored success in wide-ranging spending cuts across its P39.19 billion budget, BusinessWeek has learnt.

The bond is to support this year's anticipated P12.1 billion budget deficit.

Government's coffers have also been bolstered by under-spending in the recurrent and development budgets approved by Parliament in February, saving between 10 and 20 percent of the funds released thus far this year.

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