The Bureau of Treasury would sell 45 billion pesos of Treasury bills and an equal amount of T-bonds in the October to December period, it said in a statement. Total debt offers are 15 percent lower than its actual Q3 debt sales.

For the third quarter, the Treasury had set a borrowing plan of 108 billion pesos, but actual debt issues were 106.25 billion pesos, based on Reuters' calculations of Treasury auctions.

The Treasury kept the size of its twice monthly T-bill auctions at 7.5 billion pesos and the T-bond auction at 9 billion pesos.

It also maintained the allocation for the 91-day, 182-day and 364-day papers at 1.0 billion pesos, 2.5 billion pesos and 4.0 billion pesos, respectively.

Planned local debt sales in the fourth quarter could be reduced further, treasury officials said previously, with Manila looking to issue a minimum 60 billion pesos worth of 25-year retail T-bonds from Oct. 9 to 22.

Data on Wednesday showed government revenues in August were greater than its spending in the month, allowing it to post its third monthly budget surplus this year and bringing the eight-month shortfall to just a quarter of the full-year budget deficit target.