Government borrowings exceed programLatest data from the Treasury showed total gross financing went up by 3.5 percent to P2.65 trillion from P2.56 trillion in 2024, exceeding its P2.60-trillion borrowing plan. MANILA, Philippines — The Marcos administration’s gross borrowings rose to P2.65 trillion in 2025 amid higher domestic borrowings, exceeding its planned financing program, the Bureau of the Treasury (BTr) said. In December alone, total gross borrowings plunged by 18 percent to P57.46 billion from P69.77 billion in the same month in 2024. It accounted for nearly 80 percent of total borrowings. Last year’s gross borrowings sought to plug the government’s P1.58 trillion budget deficit, which surpassed the government’s P1.56 trillion forecast by 0.97 percent, Rizal Commercial Banking Corp. chief economist Michael Ricafort said.

Source: Philippine Star March 08, 2026 16:34 UTC