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,...
While the Marcos government plans to make bulk borrowings via sales of jumbo government debt papers a regular practice, next year’s total borrowings could only increase by around ₱100 billion. According to National Treasurer Sharon Almanza, this marginal increase comes alongside an 80:20...
Domestic investors locked in “sweet spot” medium-term bonds amid persistent external uncertainties, allowing the government to raise an initial ₱210 billion from retail treasury bonds (RTBs) on Tuesday, Aug. 5, as the offer period opened for local investors. During the launch of GBonds or...
Over half a trillion pesos in total payments were slashed during the first six 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)...
The national government’s outstanding debt breached the ₱17-trillion mark in June, reaching a fresh record high of ₱17.27 trillion. According to the latest data reported by the Bureau of the Treasury (BTr), the total debt stock bloated by 2.1 percent or ₱350 billion from the end-May figure....
Global trade jitters and the impending expiry of US tariff pauses failed to deter investors, as the Marcos administration’s debt sales saw robust demand, allowing the Bureau of the Treasury to raise ₱28.4 billion and continue its four-week trend of lower borrowing costs. During the sale of...
Despite the single-digit drop in domestic borrowings, the Marcos administration’s foreign debt rose by more than 50 percent in the first six months of the year, leading to a higher gross borrowing of ₱1.59 trillion from ₱1.57 trillion a year earlier. According to the Bureau of the Treasury...
A rare remittance from the Presidential Commission on Good Government (PCGG)—reportedly proceeds from the sale of a Claude Monet painting considered as ill-gotten wealth by the family of strongman Ferdinand Marcos Sr.—has helped triple the Marcos Jr. administration’s privatization revenues in...
The Marcos administration raised ₱20 billion from long-term debt sales, but at higher interest rates, as investors anticipate an upcoming retail treasury bond offering that could impact market demand. During the sale of three-year treasury bonds (T-bonds) on Tuesday, July 22, the Bureau of the...
