THE national government has set a P170-billion borrowing program in May, after exceeding its program in April.

In an advisory posted on its website Tuesday afternoon, the Bureau of the Treasury (BTr) said it is planning to borrow P170 billion next month — P110 billion in Treasury bills (T-bills) and P60 billion of Treasury bonds (T-bonds).

The BTr will offer P5 billion each in 91-day and 182-day papers, and P10 billion for 364-day T-bills every Monday. It will auction off P15 billion worth of 35-day papers again on May 5 and May 19.

For the T-bonds, the Treasury will offer P30 billion in three-year notes on May 12 and another P30 billion via five-year securities on May 26.

The May borrowing plan is lower than the P222.925 billion that the BTr raised from its regular auctions of T-bills and T-bonds in April, along with five instances of opening tap facility options. The BTr had a P190-billion borrowing program for April. — Beatrice M. Laforga