Politics
Philippine Government Debt Reaches P18.55 Trillion by End of May
The Philippines' outstanding government debt reached P18.55 trillion by the end of May, a 0.41% increase from April. The rise was primarily driven by financing needs amidst the Middle East conflict, though a stronger peso helped moderate the growth.
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- Philippine Government Debt Hits Record P18.55 Trillion
The Philippines' outstanding government debt reached a record P18.55 trillion by the end of May, primarily driven by increased domestic borrowings to meet funding needs amid the Middle East conflict. While the peso's appreciation against the dollar helped temper the rise, domestic debt constitutes about two-thirds of the total.