Julia Christine Botin

National debt might hit P23 trillion by 2028 - Lacson

Article (news)

DEBT END 2025

David Dizon

ABS-CBN News

<p>The national debt might reach as high as 23 trillion pesos by the end of President Ferdinand Marcos Jnr’s term in 2028 due to increase in borrowings both domestic and external, Sen. Panfilo Lacson said Thursday.</p><p>Data from the Department of Budget and Management’s Budget of Expenditures and Sources of Financing showed outstanding debt of the national government is set to increase from P16.05 trillion as of end-2024 to P17.35 trillion by end-2025. </p><div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/175393388428520250731040732_Screenshot 2025-07-31 at 11.16.33.png" style="width:950px" class="fr-fic fr-dib"/></div><p>Lacson noted national debt was only P5.9 trillion by the end of President Benigno Aquino III’s term in 2016. It then rose to P13 trillion by the end of President Rodrigo Duterte’s term in 2022.</p><p>“Ngayon, 3 years pa lang tayo, nasa P17.35 trillion. ‘Yung ibang negosyante na nakakausap namin, ang projection nila pagbaba sa 2028, baka pumalo na tayo sa P23 trillion,” he said in a DZMM interview.</p><p>“Napakalungkot nito kasi baka dumating ‘yung panahon na hindi na natin kayang tustusan o kaya panagutan ‘yang ating mga inuutang sa laki ng ating deficit kasi year in and year out, ‘yung budget deficit natin lumolobo,” he added.</p><p>Lacson said there is nothing wrong with borrowing money “as long as it is invested properly.”</p><p>“Ang problema natin, umuutang tayo pero na mi-misuse ‘yung inuutang natin. Napupunta sa bulsa nung alam mo na, ‘yung matatakaw na kawani ng gobyerno, mapa executive man o legislative branches.”</p><p>The <a href="https://www.dof.gov.ph/govt-strategically-manages-large-borrowings-inherited-from-past-admin-grows-the-economy-faster-and-brings-down-debt-to-sustainable-level/#:~:text=The%20Marcos%2C%20Jr.,to%20the%20latest%20available%20data." rel="noopener noreferrer" target="_blank">Department of Finance</a> earlier listed down the borrowings of previous presidents from the time of President Ferdinand Marcos Sr. as follows:</p><div><strong>Ferdinand Marcos, Sr. - PHP 365 billion</strong></div><div><strong>Corazon Aquino - PHP 372 billion</strong></div><div><strong>Fidel Ramos - PHP 681 billion</strong></div><div><strong>Joseph Estrada- PHP 766 billion</strong></div><div><strong>Gloria Macapagal Arroyo - PHP 2.40 trillion</strong></div><div><strong>Benigno Aquino III - PHP 1.37 trillion</strong></div><div><strong>Rodrigo Duterte - PHP 6.84 trillion</strong></div><p>It said that despite inheriting the larger debt stock, the DOF had already made improvements to the country’s debt statistics by reducing the NG debt-to-GDP ratio to 60.7% in 2024 via a prudent debt management strategy.</p><p>“With the economy continuing to grow faster—reaching about PHP 36.8 trillion in 2028—compared to its obligations, the country remains firmly on track to reduce the NG debt-to-GDP ratio to below 60% by the end of the President’s term,” the DOF said. </p><p>The Philippines’ debt-to-GDP ratio climbed to 62 percent in March 2025 from 60.7 percent in the previous quarter.</p>

<p>The national debt might reach as high as 23 trillion pesos by the end of President Ferdinand Marcos Jnr’s term in 2028 due to increase in borrowings both domestic and external, Sen. Panfilo Lacson said Thursday.</p>

The national debt might reach as high as 23 trillion pesos by the end of President Ferdinand Marcos Jnr’s term in 2028 due to increase in borrowings both domestic and external, Sen. Panfilo Lacson said Thursday.