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flag Philippines' foreign debt slightly declines, but debt service payments surge 26% in 2024.

flag The Philippines' foreign debt slightly decreased to $137.63 billion by the end of 2024, but its debt-to-GDP ratio improved to 29.8%. flag The national government's debt service payments rose by 26% in 2024 to P2.021 trillion, reflecting increased borrowing for pandemic recovery and infrastructure. flag Despite a budget deficit decrease, significant foreign borrowing continues to finance government spending.

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