Driven by robust investor demand, the national government has upsized its latest foreign currency-denominated bond offering from $2 billion to a final $2.5 billion, officially completing the country’s external borrowing program for 2026. The Bureau of the Treasury (BTr) announced on Tuesday, June...
Citing the need to finance the country’s ₱6.793 trillion national budget for fiscal year (FY) 2026, the Philippines has returned to the global debt markets with a triple-tranche offering of United States (US) dollar-denominated global bonds. In a statement issued on Tuesday, June 16, the Bureau...
To boost the national government’s response to the ongoing energy crisis, the state-run Maharlika Investment Corp. (MIC) has remitted ₱1.38 billion in cash dividends to the Bureau of the Treasury (BTr). This remittance represents 75 percent of the fiscal year (FY) 2025 net earnings of the...
Government subsidies to state-run firms surged by 151 percent to ₱93.1 billion as of end-April, driven by the massive, one-time fund release to the Philippine Health Insurance Corp. (PhilHealth). According to the latest data from the Bureau of the Treasury (BTr), total subsidies to...
Elevated borrowing costs, fueled by expectations of further monetary tightening this month, prevented the Marcos administration from raising its full target amount at the latest Treasury bill (T-bill) auction. During the auction on Monday, June 8, the Bureau of the Treasury (BTr) raised ₱56...
The national government’s debt-servicing costs surged past the ₱1-trillion threshold in the first four months of the year, driven by the dramatic increase in domestic principal repayments that outweighed the sharp reduction in external obligations. Data from the Bureau of the Treasury (BTr)...
Higher debt repayments outweighed fresh borrowings in the first four months of 2026, pulling down the national government’s (NG) debt stock to ₱18.47 trillion, even as a weaker peso increased the peso value of foreign-currency obligations. According to the latest Bureau of the Treasury (BTr)...
The government fully awarded its ₱40 billion offering of Treasury bills on Monday, as investors demanded higher yields amid mounting domestic inflation concerns and weakening currency. The Bureau of the Treasury raised the entire ₱40 billion on offer at its June 1 auction, staging a full...
After the borrowing overshoot in the first quarter, the Marcos administration stepped on the brakes in April, bringing gross debt to ₱1.13 trillion in the first four months of the year, modestly lower than the ₱1.14 trillion recorded in the same period last year. While the government...
Recurring payments from the sale of Nonoc Mining and Industrial Corp.’s assets injected more than ₱600 million into the national coffers in April, marking the highest single-month collection in the 11 months since May 2025. According to the latest data from the Bureau of the Treasury (BTr), the...
The Philippines’ debt as a share of economic output is expected to remain elevated above 60 percent of gross domestic product (GDP) this year as the government ramps up borrowings to support its response to the national energy emergency amid the prolonged war in the Middle East. Based on the...
The national government’s (NG) usual April budget surplus shrank by more than half this year after the annual income tax returns (AITRs) filing and payment deadline was extended by one month due to the national energy emergency, although revenues were partly supported by millions of pesos in...
