THE Bureau of Treasury (BTr) on Tuesday raised P25 billion from the auction of Treasury bonds (T-bonds), marking the seventh straight week of full award, as investors’ asking rates were lower than the original coupon rate. The Treasury said its auction committee decided to make a full award after the…
Office of the Ombudsman
The Office of the Ombudsman (OMB) turned over to the Bureau of Treasury (BTr) on Tuesday, Sept. 13, a check for P53.6 million and 11 land titles which form part of the forfeited assets of retired Armed Forces of the Philippines (AFP) Maj. Gen. Carlos F. Garcia.
OMB’s
President Rodrigo Duterte MANILA - President Rodrigo Duterte on Thursday said the Philippine government has been forced to borrow money due to a lack of fund sources. Duterte gave the explanation, as the country's outstanding debt rose to PHP12.09 trillion, as of end-February. In a speech delivered in Lapu-Lapu City, Duterte stressed the need for government borrowings, saying the money would be used to finance big-ticket projects. "The government is like a house. Ngayon, ang sweldo ko, ganito lang (Now, my salary is just this much), pero (but) my house needs [repair]. The roof is leaking o (or) you need another balay (house). Wala kay kwarta (You have no money), then you borrow," he said during the joint meeting of the National and Regional Task Forces to End Local Communist Armed Conflict. Duterte said his administration was left with no choice since revenue collection is not sufficient. Just like the private companies, the government has to borrow to avoid "collaps