MANILA (REUTERS) - The Philippines may advance its borrowing plan for 2014 and pick up funds this year to take advantage of strong liquidity in the market, a government official said on Wednesday.

The government is eyeing to absorb some of the liquidity that will be forced out of the central bank's short-term special deposit account (SDA) window as a result of banks' narrower access to the facility starting this month.

"One option can be pre-funding," National Treasurer Rosalia De Leon said when asked about the government's borrowing programme.

The Philippines, she said, plans to return to the global debt market next year after a year's absence, with a US$1 billion (S$1.3 billion) bond issue. The debt sale, though, has yet to be approved by the inter-agency Development Budget Coordination Committee that sets the country's macroeconomic and fiscal goals.

Ms De Leon said she could not say how much the government plans to borrow next year, but a significant part of it will still come from the domestic debt market.

Earlier this year, the country's credit rating was raised to investment grade by Fitch and Standard & Poor's, providing a vote of confidence on the government's push to foster sustainable growth, strengthen the fiscal position and improve infrastructure.