Govt to borrow P2bn via treasury bills

According to available documents, the Ministry of Finance and Development Planning has allocated P2 billion for the settlement of treasury bills issued in the 2012/13 financial year.

For 2012/13, government expects to spend P3.77 billion on public debt repayment, with the treasury bills accounting for 53 percent of that amount. The 2012/13 treasury bills follow on the P1 billion raised last September and an as-yet-to-be revealed bill to be floated in March this year, both comprising 2011/12 financial year bills.