Negosyante News

November 5, 2024 4:29 pm

PH To Consider Retail Euro Bond Sale To Bridge Budget Gap

IMG Source: Philstar

The Marcos Jr. administration is planning to explore the idea of floating Euro bonds to aid in its budgetary need in line with a tight fiscal space.

 

Finance Secretary Benjamin Diokno said the administration is considering Germany-based Filipino who showed interest in the proposal.

 

“I’m sure there will be strong demand, especially among seniors since they flush with cash,” Diokno said.

 

Should the Euro bonds push through, they will be sold to investors. However, the schedule for the bond sale is yet to be determined.

 

The current administration has looked into international debt markets twice for its spending needs.

 

The state’s debt stock is composed mainly of domestic liabilities at 70% since the national government said it would protect the debt pile from foreign currency fluctuations.

 

The government is currently working with a budget deficit since the transition from the previous Duterte administration’s borrowing spree to fund its pandemic response.

 

 

Source: Philstar

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