Due to faster increase in spending than earnings, the national government’s fiscal deficit widened by 24.7 percent to ₱869.2 billion in the first eight months of the year from ₱697 billion in the same period last year. Still, the year-to-date fiscal deficit remains manageable, clocking in...
The Marcos government borrowed only ₱27 billion of its planned ₱35 billion through the sale of two government bonds, as demand was weaker for both the three-year and 20-year bonds, while borrowing costs remained high for the latter. During the sale of reissued 20-year Treasury bonds (T-bonds)...
The Bureau of the Treasury expects that the Philippines’ potential inclusion in JPMorgan Chase & Co.’s emerging market government bond index will attract billions in new foreign investment, further integrating the country into global financial markets. National Treasurer Sharon P. Almanza told...
Domestic investors snapped up the government’s short-term debt papers this week, allowing the Marcos administration to raise an additional ₱25 billion at lower borrowing costs, as investors locked in yields ahead of further rate cuts. During the latest Treasury bills (T-bills) auction on Sept....
Nearly half a trillion pesos in total payments were slashed during the first seven months of 2025, with domestic lenders receiving nearly ₱600 billion less in principal payments compared to what they had received from the Marcos administration in 2024. Data from the Bureau of the Treasury (BTr)...
Just past midyear, the national government’s outstanding debt hit a fresh high of ₱17.56 trillion, surpassing the economic managers’ projected year-end level of ₱17.36 trillion. The latest data from the Bureau of the Treasury (BTr) released on Wednesday night, Sept. 3, showed that the...
The Marcos administration’s gross borrowings declined slightly to ₱1.757 trillion in the first seven months of the year, driven by a drop in domestic loans despite a more than 50 percent increase in foreign debt. Data from the Bureau of the Treasury (BTr) showed that the government’s debt as...
Japan-based debt watcher R&I’s fresh affirmation of the Philippines’ high investment-grade ‘A-’ credit rating has allowed the Marcos administration to raise a cumulative ₱35 billion through bond sales at lower borrowing costs. During the auction of three-year and 25-year Treasury bonds...
After raising over half a trillion pesos from retail treasury bonds (RTBs) last week, the Marcos administration successfully borrowed ₱50 billion from separate sales of debt securities this week. During the sale of 10-year treasury bonds (T-bonds) on Tuesday, Aug. 19, the Bureau of the Treasury...
Driven by “very strong market demand,” the national government concluded its offer period for five-year retail treasury bonds (RTBs) last week, borrowing a total of ₱507.2 billion from both local and foreign lenders. Of the total, issued at a six-percent annual interest, ₱425.5 billion came...
Despite a bulk of subsidies provided to the National Food Authority (NFA) in the second quarter, the total financial support received by government-owned and controlled corporations (GOCCs) still declined in the first six months of 2025. Government subsidies to state-run firms declined by 22...
As the national government’s (NG) outstanding debt continued to breach records in the second quarter of 2025, the debt-to-gross domestic product (GDP) ratio climbed to a 20-year high of 63.1 percent—further away from the Marcos administration’s target. Finance Secretary Ralph G. Recto,...
