The national government’s outstanding debt rises to a new record level of P19.39 trillion as of end-July, according to data from the Bureau of the Treasury (BTr). The increase reflects new borrowing and the ongoing depreciation of the Philippine peso, which raises the peso value of obligations denominated in foreign currency.
The BTr data show domestic debt increases to P13.11 trillion, while external debt edges up to P6.28 trillion. The releases also indicate that the July debt level is close to the financing path set for the coming year, with the outstanding amount equivalent to about 98% of the government’s revised P19.765-trillion debt program for 2026. Across the outlets, the central points are consistent: the debt stock reaches an all-time high in July, and both borrowing activity and currency movement contribute to the increase.
