The Philippines raised a record 585 bln pesos (USD 10.5 bln) from retail treasury bonds, with proceeds aimed at funding government projects and addressing the budget deficit. The sale included 212.7 bln pesos from an auction and 372.2 bln from a public offer and bond exchanges. The government’s borrowing plan for the year totals 2.46 tln pesos, targeting a budget deficit reduction to 3% of GDP by 2028.