The Philippine government’s total debt climbed to an all-time high of P16.31 trillion in January 2025, driven by additional borrowings and a weaker peso, according to the Bureau of the Treasury.
Data showed that the country’s debt increased by P261.47 billion or 1.63% from the previous month. Domestic debt rose by 1.41% to P11.08 trillion, while external debt grew by 2.10% to P5.23 trillion.
The Treasury attributed the increase to new loans and the depreciation of the peso, which slipped from P57.847 to P58.375 against the US dollar during the period.
