Benise Balaoing

Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News

Article (news)

Peso

ABS-CBN News

MANILA — The Philippines&#x27; sovereign debt reached P18.13 trillion in January as the government frontloaded domestic and external issuances to get concessional financing terms
ahead of global market uncertainties.Market uncertainties could further drive interest costs upward, the Bureau of the Treasury said.<div><a href="https://www.abs-cbn.com/news/business/2026/2/3/philippine-debt-climbs-to-p17-71-trillion-in-2025-1610" rel="noopener noreferrer" target="_blank">Philippine debt climbs to P17.71 trillion in 2025</a></div>Domestic debt accounted for 68 percent of the total debt figure. Domestic debt hit P12.32 trillion in January.&quot;The net incurrence of government securities amounting to
P208.05 billion reflects the (government&#x27;s) commitment to prioritize domestic sources of
funding, providing Filipinos with a safe and stable investment option while supporting
national development,&quot; the Treasury said.Foreign debt, meanwhile, climbed to P5.81 trillion, accounting for 32 percent of the government debt portfolio.The Treasury said this comes on the back of the issuance of new global bonds and net
availments of official development assistance from international development
partners.Philippine economic managers have said that the country&#x27;s growing debt was not a cause for concern as long as the economy grew faster than the debt. Economic growth, however, was <a href="https://www.abs-cbn.com/news/business/2026/1/29/philippines-gdp-fourth-quarter-2025-below-target-1012" rel="noopener noreferrer" target="_blank">slower than expected</a> in 2025, as weather disturbances dampened economic activity, and the government slowed down spending following a massive corruption scandal.

Philippine debt climbs to P18.13 trillion in January

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Philippine debt climbs to P18.13 trillion in January

Benise Balaoing,

ABS-CBN News

Published March 04, 2026 06:23 PM PHT

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Debt

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