Gov’t debt piles up to record P18.55 T

The Marcos administration’s outstanding debt climbed to P18.55 trillion as of end-May, lifted by fresh domestic borrowings to cover funding needs amid the ongoing war in the Middle East, although the appreciation of the peso against the dollar helped temper the increase, the Bureau of the Treasury said.

- By AUBREY ROSE INOSANTE

BTr data showed that the latest debt stock was 0.41 percent higher than the previous month’s P18.47 trillion and was 9.6 percent more than the P16.92 trillion in the same period in 2025.

As such, the current debt pile is now around 97 percent of the expected P19.06 trillion debt by end-2026.

“The increase was primarily driven by the net inflow of domestic securities as the government continued to raise funds to support funding needs, despite the ongoing Middle Eastern conflict,” the Treasury said.

“Meanwhile, the appreciation of the peso against the dollar and other foreign currencies helped temper the increase,” it added.