• The Marcos administration has so far incurred P1.82 trillion in debt since it assumed office, largely due to a high interest rate environment, pushing the country’s outstanding obligation to an all-time high of P14.62 trillion in 2023, according to the Bureau of the Treasury.
  • The latest figure was also 8.92 percent higher than the end-2022 debt of P13.42 trillion.
  • The current debt-to-GDP ratio is now just slightly above the internationally accepted threshold of 60 percent. Reducing the ratio means that economic growth should outpace the level of borrowings of the Philippines.