THE national government’s outstanding debt climbed to a historic high of ₱17.58 trillion in July, surpassing the 2025 projection of ₱17.359 trillion, according to the Bureau of the Treasury (BTr).
The latest figure was ₱296.19 billion, higher than June’s ₱17.27 trillion and ₱1.87 trillion more than the year-earlier level of ₱15.69 trillion.
It also outpaced the ₱16.05 trillion debt stock recorded at the close of 2024 by ₱1.251 trillion.
The surge was mainly attributed to increased domestic borrowings, which accounted for 76 percent of the total debt, while 24 percent came from foreign sources.
Despite the continued rise, the Treasury expressed confidence that the debt burden will ease by December 2025, citing the scheduled repayment of ₱814.2 billion worth of domestic bonds and the winding down of fundraising activities.
“The Marcos Jr. administration remains steadfast in its commitment to prudent debt management by leveraging strong investor confidence in peso-denominated securities while ensuring that borrowings are at the lowest possible cost and support fiscal sustainability, inclusive growth, and a stronger Philippine economy,” the BTr said in a statement.