Philippines' total debt hits $273.56 billion, up 0.8% from September, due to peso depreciation.

The Philippines' total debt surpassed 16 trillion pesos ($273.56 billion) in October, marking a 0.8% increase from September. The rise is mainly due to the peso's depreciation against the US dollar. Domestic debt slightly decreased, while external debt increased by 3.5% due to foreign loan availments and exchange rate movements. The country's debt-to-GDP ratio is at 61.3%, above the government's target.

December 03, 2024
7 Articles

Further Reading