Philippines Government Debt to GDP — 2026 Data & Trend
The Philippines' government debt was 59.13% in December 2025, up from 56.62% the previous year. A year earlier it stood at 56.62%.
The Philippines' government debt stands at 59.13% as of December 2025. The government debt currently sits at 59.13% (up from 56.62% in the prior year). Across the tracked window it has ranged between 36.97% and 71.39%, and is 2.51% higher than a year ago.
The trend
Among the 192 economies tracked on this platform, Philippines ranks #80 on government debt by latest value. It rose from 56.62% in the previous year, and compares with a year-earlier 56.62%.
What's driving it
The debt ratio moves with budget deficits, growth, interest costs and the currency; faster nominal growth lowers it, while wide deficits push it up.
Recent readings
| Period | Government debt |
|---|---|
| Dec 2025 | 59.13% |
| Dec 2024 | 56.62% |
| Dec 2023 | 56.48% |
| Dec 2022 | 57.39% |
| Dec 2021 | 57.00% |
| Dec 2020 | 51.64% |
| Dec 2019 | 36.97% |
| Dec 2018 | 37.15% |
Data: Source: IMF — International Reserves and Foreign Currency Liquidity (IRFCL), International Liquidity (IL), Monetary and Financial Statistics (MFS), World Economic Outlook (WEO). Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
How Much Government Debt Does the Philippines Have in 2026?
The Philippines' government debt was 59.13% in December 2025, up from 56.62% the previous year. A year earlier it stood at 56.62%.
Is the government debt rising or falling in the Philippines?
It rose in the latest reading — 59.13% in December 2025 versus 56.62% a year earlier. Year on year it is higher.
What is government debt?
It measures total public debt expressed as a share of gross domestic product (debt-to-GDP).