Julia Christine Botin

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA — The Philippines’ national debt has risen to over P19 trillion in June, the Bureau of Treasury said. This was driven by net borrowing from both domestic and foreign sources to finance national development projects.Treasury said the total debt load rose by P518.98 billion to P19.07 trillion, up 2.8 percent from the P18.55 trillion recorded at the end of May. The agency noted that favorable exchange rate movements helped temper the overall debt increase, as the Philippine peso appreciated from P61.501 per US dollar in May to P61.290 in June.The government maintained its strategic borrowing preference for local funding to limit foreign exchange exposure, with domestic obligations comprising 67.33 percent of the total debt stock and external borrowings accounting for 32.67 percent.Domestic debt stood at P12.84 trillion, up 2.74 percent (P342.33 billion) month-on-month, primarily led by the net issuance of government securities totaling P342.93 billion.Foreign debt: rose 2.92 percent (P176.66 billion) from May to reach P6.23 trillion, largely due to P223.11 billion in net new foreign borrowings, though foreign currency revaluations trimmed P46.46 billion off the foreign debt stock.Meanwhile, the government’s guaranteed obligations dropped significantly by 31.21 percent (P138.43 billion) month-on-month to settle at P305.07 billion at the end of June. The decline was spearheaded by net repayments of domestic and external guarantees totaling P136.71 billion and P0.47 billion, respectively.The Philippines has been borrowing heavily in the last few years, as it funds its infrastructure push and social safety programs amid global economic headwinds. The administration of President Ferdinand Marcos, Jr. inherited a massive P12.79-trillion debt when it took office in 2022 from the administration of former President Rodrigo Duterte. This was already more than double the P5.95 triillion debt that Duterte inherited from the administration of former President Noynoy Aquino. Economic managers have said that the rising debt is not a cause for worry as long as the economy expands faster than the debt. GDP growth however has been slowing down in the last few years as government spending slowed amid a massive corruption scandal, and amid external economic shocks

Treasury said the total debt load rose by P518.98 billion to P19.07 trillion, up 2.8 percent from the P18.55 trillion recorded at the end of May.

Treasury said the total debt load rose by P518.98 billion to P19.07 trillion, up 2.8 percent from the P18.55 trillion recorded at the end of May.

Philippine debt breaches P19 trillion in June

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Philippine debt breaches P19 trillion in June

Arthur Fuentes,

ABS-CBN News

Published August 03, 2026 01:30 PM PHT

Read More:

national debt

sovereign debt

foreign debt

domestic debt

foreign exchange

economy

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