Philippine National Debt Sees Slight Decline in December

In Manila, the national government’s total outstanding debt decreased marginally to PHP16.05 trillion in December, marking a 0.24 percent drop from PHP16.09 trillion the previous month. The Bureau of the Treasury (BTr) reported that this figure aligns well with the projected PHP16.06 trillion outlined in the 2025 Budget of Expenditures and Sources Financing. According to BTr data, domestic debt stood at PHP10.93 trillion, while external debt was PHP5.12 trillion. The debt-to-GDP ratio was reported at 60.7 percent, slightly higher than the revised Medium-Term Fiscal Framework’s estimate of 60.6 percent, influenced by a lower-than-anticipated real GDP growth of 5.6 percent for the year. The BTr emphasized that the slight variance from the planned debt level reflects the government’s adept management of cash and debt, particularly in navigating the timing and volume of external debt issuances in a fluctuating exchange rate environment.