government debt

Philippines’ debt rises to P11.6 trillion in July 2021

Ralf Rivas

This is AI generated summarization, which may have errors. For context, always refer to the full article.


Since the start of 2021, the Philippines' total debt has grown 18.5% or by P1.8 trillion

The Philippine government’s debt climbed further to P11.6 trillion as of end-July, as the country borrowed more to fund programs amid falling revenues.

The latest figure reported by the Bureau of the Treasury is 4% higher than the end-June level, mainly due to the peso’s depreciation and both domestic and external debt.

Since the start of 2021, total debt has grown 18.5% or by P1.8 trillion.

External debt increased 8.2% to P263.4 billion, as the government borrowed from foreign sources and issued dollar-denominated bonds. 

Domestic debt amounted to P8.1 trillion, 2.3% more compared to the end-June level, as a result of the government issuing securities.

The Philippines is set to borrow P3.07 trillion in 2021. –

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Download the Rappler App!
Tie, Accessories, Accessory


Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.