The national government’s outstanding debt rose to P18.55 trillion as of end-May 2026, up by 0.41% or P76.11 billion from April, according to the Bureau of the Treasury.
The increase was driven by financing needs linked to external developments, including the Middle East conflict, but was tempered by the peso’s appreciation against the US dollar and other currencies.
About 67.37% of the total debt came from domestic sources, which rose to P12.50 trillion, while external debt slightly declined to P6.05 trillion due to currency effects.
The Bureau of the Treasury said the shift reflects the government’s strategy of relying more on local borrowing to support domestic capital markets and reduce foreign exchange risks.
Meanwhile, guaranteed obligations also climbed to P443.50 billion, covering debts of government corporations that the state must assume if borrowers default.
Source: PhilNews24 | July 3, 2026
PHILIPPINE GOVERNMENT DEBT RISES TO P18.55 TRILLION IN MAY
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