The Department of Finance (DOF) said the Marcos administration is on track to meet its borrowing requirements for the year, which will provide the necessary funding for government programs and projects.

With a total financing goal of P2.46 trillion for 2024, the government plans to secure 75 percent of the funds through domestic borrowing, while the remaining 25 percent will be sourced from foreign creditors.

“We are on track regarding our borrowing requirements to fund the needs of government and our people,” Finance Secretary Ralph G. Recto said following the completion of the 30th retail treasury bond (RTB) sale.

The recent RTB offering, the third issuance under the Marcos administration, was a success, attracting a record P584.86 billion through the sale of five-year notes.

During the nine-day offering period, the RTBs, including a swap offer for bonds maturing on March 9 and March 12, received an additional P372.14 billion in orders.

Of that total, P128.69 billion came from new investments, while P243.45 billion was obtained through the switch program.

The Bureau of the Treasury had previously raised P212.72 billion at the RTBs' rate-setting auction on Feb. 13.

“I am glad a lot have invested,” Recto said. “Likewise, retail investors have more investment opportunities.”

In 2023, the government raised P1.87 trillion, demonstrating resilience in a challenging market environment.

Of that amount, P1.65 trillion was generated through the issuance of domestic treasury bills and government securities, with an additional P220 billion sourced from external commercial sources.