The government borrowed more short-term debt than planned as borrowing rates continued to decline for the third straight week, driven by expectations that the central bank will further cut its monetary policy rate in its upcoming April meeting. At Monday’s auction on March 17, the Bureau of the...
Amid record-high borrowings, the Marcos administration increased debt payments by over ₱400 billion in 2024, bringing total settlements to a record high, too, driven largely by higher amortization. Data from the Bureau of the Treasury (BTr) showed that the government’s debt payments climbed by...
The Marcos administration’s subsidies to government-owned and -controlled corporations (GOCCs) significantly decreased last year, hitting a six-year low. The latest data from the Bureau of the Treasury (BTr) revealed that GOCCs received a total of ₱138.8 billion in state subsidies from January...
Marcos administration’s gross borrowings increased to ₱2.56 trillion in 2024 amid massive increases in both domestic and foreign borrowings, the Bureau of the Treasury (BTr) reported. Data from the BTr showed that total borrowings went up ₱370 billion last year. This is equivalent to a nearly...
The Philippine government’s total debt reached a record high of ₱16.31 trillion after the government borrowed an additional ₱261.5 billion in January. “This level remains manageable,” the Bureau of the Treasury (BTr) said in a March 4 statement, despite reporting a 1.6 percent increase in...
Looming Trump tariff hikes dampened investor demand, driving up interest rates on long-term government bonds. On Tuesday, March 4, the Bureau of the Treasury (BTr) borrowed ₱30 billion through the sale of reissued five-year bonds. Bids totaled ₱56.82 billion, nearly double the offered...
The government’s total revenue collections for 2024 reached ₱4.419 trillion, surpassing the ₱4.270 trillion target and marking the highest revenue effort in 27 years at nearly 17 percent of the gross domestic product (GDP). The budget deficit narrowed slightly by ₱5.7...
Interest rates on long-term government bonds climbed as investor appetite weakened due to concerns over US inflation risks and fewer US Federal Reserve rate cuts despite recent domestic policy boosts. On Tuesday, Feb. 25, the Bureau of the Treasury (BTr) successfully raised ₱25 billion through...
Improving market sentiment following the Philippines’ exit from the global money-laundering watchlist, coupled with expectations of monetary easing, fueled strong investor demand for the government’s short-term debt papers. At Monday’s auction on Feb. 24, the Bureau of the Treasury (BTr)...
Strong demand for government long-term debt papers drove yields lower, fueled by expectations of central bank interest rate cuts and easing US Treasury yields. On Tuesday, Feb. 18, the Bureau of the Treasury (BTr) successfully raised ₱30 billion through the auction of reissued 10-year bonds....
Investor demand for the government’s short-term debt papers stayed strong for the second week amid the central bank’s surprise interest rate pause and growing interest in long-term securities amid falling US Treasury yields. At Monday’s auction on Feb. 17, the Bureau of the Treasury (BTr)...
Long-term government debt yields fell on Tuesday, Feb. 11, amid expectations of a 25-basis-point cut in key borrowing costs by the Bangko Sentral ng Pilipinas (BSP) and easing U.S. Treasury yields. The Bureau of the Treasury (BTr) raised ₱30 billion ($540 million) through an auction of...
