Bureau of the Treasury
MANILA, Philippines — The government ended 2024 with an outstanding debt of P16.05 trillion on the back of availments of more financing and the effect of the weak peso.
Data from the Bureau of the Treasury (BTr) showed the debt pile went up by 9.8 percent or P1.44 trillion year-on-year in 2024.
But total obligations settled below the P16.06-trillion projection of the Marcos administration for 2024.
The total debt load by the end of 2024 was equivalent to 60.7 percent of gross domestic product (GDP), a little higher than the government’s program of 60.6 percent.
The latest debt-to-GDP ratio was also a bit higher than the 60-percent threshold deemed manageable for developing countries.