Government to Borrow P889.72-B in 2018

The government plans to borrow P889.72 billion next year, 22.3% more than the revised P727.64-billion program for 2017. It will retain an 80:20 borrowing mix in favor of domestic sources. The administration is looking at a wider deficit ceiling equivalent to 3% of GDP annually starting 2017, as it plans to drastically raise spending, particularly on infrastructure. The borrowing schedule, however, does not factor in yet the plan to issue panda bonds that Finance Secretary Carlos Dominguez want to issue within the…

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