MANILA, Philippines — The Bureau of the Treasury (BTr) is planning to recalibrate its borrowing program for this year, including the planned samurai bond issuance, as it assesses the national government’s fiscal position and spending outlook now that the 2019 budget has been signed. “We will have to calibrate our borrowings, also the way we see the progression of the spending. In particular, De Leon said the government needs to review the amount for its planned yen-denominated bond offering later this year. Meanwhile, De Leon said the government may not push through with its second batch of dollar-denominated global bonds this year. For 2019, the national government is expected to borrow P1.19 trillion, 20 percent higher than the 2018 program of P986 billion, in expectation of the higher fiscal deficit ceiling this year.

Source: Philippine Star May 20, 2019 16:01 UTC