The Philippine government’s outstanding debt hit a record P17.27 trillion in June 2025, driven by strong investor demand for government securities. The Marcos Jr. administration continues to prioritize domestic borrowings to boost the local capital market and manage foreign exchange risks.
The Philippine government’s outstanding debt rose 11.5 percent year-on-year to a record P17.27 trillion as of end-June 2025, the Bureau of the Treasury said Wednesday.
It increased by P1.78 trillion over the past 12 months from P15.48 trillion recorded in June 2024, data from the Treasury showed.
The figure also reflected a 2.1-percent or P348 billion increase from P16.92 trillion logged in May 2025, driven by strong investor demand for government securities.
Data showed that the government continues to prioritize domestic borrowings, which made up 69.2 percent of the total debt portfolio at end-June.
External obligations accounted for the remaining 30.8 percent. This aligns with the government’s aim to boost the local capital market, reduce foreign exchange risks and build investor confidence in Philippine-issued securities.
Total domestic debt reached P11.95 trillion as of end-June, a 1.4-percent increase from May. It climbed 13 percent from P10.57 trillion in June 2024.
External debt stood at P5.32 trillion, up 3.5 percent from the previous month and 8.3 percent from a year ago.
Meanwhile, national government-guaranteed obligations remained stable, posting a marginal 0.4-percent increase to P345.11 billion from the previous month.
A year-to-date decline of P4.33 billion since end-2024 underscores ongoing efforts to manage contingent liabilities while supporting essential sectors, the BTr said.
“The national government’s prudent debt management approach reflects the Marcos Jr. administration’s commitment to safeguarding fiscal sustainability, supporting inclusive growth, and ensuring all borrowed funds contribute to building a stronger economy for the Filipino people,” the BTr said.
