Philippines' Debt Increases to 301.37 Billion Dollars in March
"The national government's robust revenue performance in the first quarter of 2025 has enabled the government to finance key priority programs without imposing new taxes, keeping debt growth well within sustainable levels. With the economy continuing to grow faster than its obligations, the country remains firmly on track to achieve fiscal consolidation and reduce the debt-to-gross domestic product ratio to below 60 percent by 2028," the bureau said in its media release.
It added that the country's recent credit rating upgrades and reaffirmations underscore strong investor confidence in its economic fundamentals, translating to greater demand for Philippine bonds, thereby preserving government access to reasonable borrowing costs, crucial for sustaining its inclusive growth momentum.
The bureau said domestic debt accounted for 68.2 percent of the total debt stock, while the remaining 31.8 percent comprised external obligations.
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