PHOTO: PIXABAY[MANILA] The Philippine government plans to borrow 3.3 trillion pesos (US$54 billion) next year, up by a fifth, as it seeks to revitalise an economy rocked by the Middle East conflict and a corruption scandal. The government is looking to raise 915 billion pesos from foreign creditors, including multilateral lenders like World Bank and Asian Development Bank, up from an estimated 815.5 billion pesos in 2026. Of that amount, 366 billion pesos will be sourced from the international bond market, compared with 314.4 billion pesos this year. Domestic borrowings planned for 2027 total 2.39 trillion pesos, up 24 per cent from 1.92 trillion pesos this year and should account for about 72 per cent of total debt. It plans a budget deficit of 1.69 trillion pesos for 2027, wider than the revised ceiling of 1.66 trillion pesos this year.