Key facts
- National government debt in the Philippines fell 0.1% m/m to PHP 18.47tn at end-April.
- Domestic debt portion decreased due to net redemption.
- External debt portion increased due to peso depreciation.
- Debt-to-GDP ratio eased to an estimated 64.6%.
The national government debt in the Philippines experienced a slight decrease of 0.1% from the previous month, reaching PHP 18.47 trillion by the end of April. This reduction was primarily driven by a decline in the domestic portion of the debt, attributed to net redemptions. Conversely, the external portion saw an increase, influenced by the depreciation of the Philippine peso. Consequently, the country's debt-to-Gross Domestic Product (GDP) ratio eased to an estimated 64.6%.