The Philippines expects to raise $2.5 billion in a mix of sovereign debt issues and official development loans next year, up 9 percent from this year, official government documents showed on Wednesday.

The Philippines, one of Southeast Asia's biggest sovereign debt issuers, plans to raise 115.6 billion pesos ($2.5 billion) in external debt next year against 105.9 billion pesos this year, documents to be presented by the Finance department at a congressional hearing showed.

National Treasurer Roberto Tan told reporters the government was still firming up the breakdown of its 2009 foreign debt.