Philippines to Borrow $47 Billion in 2026 as Budget Gap Widens

The Philippine government plans to borrow 2.68 trillion pesos ($47 billion) in 2026, slightly higher than this year’s estimate, as it seeks to spend more for priority projects including infrastructure, education and healthcare.

President Ferdinand Marcos Jr. told the nation last month that the government plans to roll out more social programs and create jobs to soothe public discontent. The government has penciled in 2.6 trillion pesos in borrowings for this year, data from the Department of Budget and Management showed on Wednesday.