MANILA, Philippines - The government may increase its borrowing from debt markets this year to offset lower tax collections after Congress recently passed measures which will  erode revenues, a senior official said on Thursday.

Finance Undersecretary Gil Beltran did not give details on whether the debt issues would be via local or foreign markets, but said higher borrowing was possible.

National Treasurer Roberto Tan told reporters Manila was likely to raise more than $500 million from its planned Samurai bond sale next week.