2026 gov’t borrowing plan, mix likely steady

NEXT YEAR'S government borrowing program could be “more or less” steady from this year and will likely have an 80:20 mix in favor of domestic sources, National Treasurer Sharon P. Almanza said.

- Aaron Michael C. Sy

“[It will be] more or less the same as this year. If there’s a little increase... [we could add] P100 billion,” Ms. Almanza told reporters on the sidelines of an event on Tuesday.

She added that the National Government (NG) will also keep next year’s financing mix at a 80:20 ratio in favor of domestic sources to minimize foreign currency risks.

“We will aim for 80:20 because we want to continue to minimize our foreign currency exposure. So, part of our debt management strategy really is to reduce our...foreign currency risk... One way to achieve that is [by taking] advantage of domestic liquidity because it’s still very liquid. We can still raise a substantial amount of our requirements onshore,” Ms. Almanza said.