Manila Doubles Government Borrowing in June on $2.5 Billion Global Bond
The Philippines raised P579.57 billion in June, more than twice the previous year's haul, as external debt jumped on the back of a major sovereign issuance.
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The Philippines raised P579.57 billion in June, more than twice the previous year's haul, as external debt jumped on the back of a major sovereign issuance.

The Philippines recorded a P786.8 billion budget shortfall in the first six months, up 2.8 percent year-on-year, though fiscal discipline kept the gap below programmed levels amid stronger tax collection.

Finance Minister Purbaya Yudhi Sadewa will verify bank balances before releasing additional funds, citing past cases where regions claimed shortfalls while holding idle cash.

The currency gained ground against the dollar and regional peers as oil prices climbed 30 percent in three weeks, promising hundreds of millions in additional government revenue.

The consolidation drive aims to eliminate overhead waste and improve monitoring of state assets, with savings projected to reach 80 trillion rupiah by year-end.

Prime Minister Sanae Takaichi's government endorses annual fiscal policy framework amid debate over monetary policy coordination

Finance chief targets record remittances as government-owned corporations boost contributions to national coffers

The city-state will distribute S$1.4 billion through its Goods and Services Tax Voucher scheme in August to help residents manage rising living costs.

Government debt yields surge to 2.81% amid concerns over expanding deficits and central bank policy, with analysts dubbing the episode a "honebuto shock"

Record fiscal 2025 collections driven by rising corporate earnings and consumption as inflationary pressures lift nominal economic activity

The government paid ₱97.18 billion to creditors in May, driven by higher domestic borrowing costs and rising obligations to foreign lenders

Fiscal 2025 collections reached $523 billion, surpassing government forecasts as corporate earnings climb past bubble-era peaks

Government abandons monthly limit on HK$2 fare scheme as costs rise to billions annually, restoring unlimited travel for 2.7 million eligible riders