THE National Government (NG) raised P2.08 trillion from domestic sources in the year to date, the Department of Finance (DoF) said, approaching its full-year fundraising target.
“We have raised P2.08 trillion, nearly the entire P2.11 trillion domestic issuance program for 2025, through a combination of regular Treasury bill and Treasury bond auctions and special issuances, as of yesterday,” Finance Secretary Frederick D. Go said.
Mr. Go’s Nov. 25 remarks were contained in a speech delivered by Undersecretary Karlo Fermin S. Adriano during the 128th Anniversary of the Bureau of the Treasury and the awards ceremony for outstanding Government Securities Eligible Dealers.
Based on the 2026 Budget of Expenditures and Sources of Financing, government’s overall borrowing program was set at P2.6 trillion this year, rising to P2.68 trillion in 2026, with the bulk to be raised from domestic sources.
Domestic borrowing targets in 2025 include P2.05 trillion in fixed-rate Treasury bonds and P60 billion in Treasury bills.
Gross domestic borrowing is set to fall to P2.05 trillion in 2026.
The government relies on domestic financing sources to minimize foreign currency risk.
Mr. Go, addressing the securities dealers, said: “We look to you to help us replicate this success as we raise funds for next year’s P6.79-trillion budget.”
“Managing the national passbook — that I learned does not actually physically exist — and raising 90% of our borrowing requirements to support our programs are no easy tasks. But they are foundations of a stable and prosperous country,” Mr. Go said. — Aubrey Rose A. Inosante