Government sets P824 billion local borrowingIn an updated memorandum to all government security dealers, the BTr announced its plan to raise P824 billion through the issuance of short-term Treasury bills (T-bills) and long-term Treasury bonds (T-bonds) from January to March as part of its borrowing program. The government plans to auction P324 billion worth of T-bills in the first quarter of next year, set at P108 billion each month. The government plans to raise up to P160 billion in January, P200 billion in February and P140 billion in March. The Marcos administration’s first quarter borrowing plan is 88 percent higher than the P437 billion programmed for the last quarter of 2025. “Most of the national government’s borrowing mix will come from the local or domestic market to prevent foreign exchange risks, mainly through government securities,’’ he said.

Source: Philippine Star December 23, 2025 16:01 UTC