National Debt (% of GDP): Philippines
Philippines's national debt (% of gdp) is currently 58.8% as of 2026. # Philippines National Debt (% of GDP) The Philippines' national debt stood at 58.
Current (2026)
58.8%
+1.0% y/y
Peak (1993)
73.9%
Low (2019)
37.0%
Source
IMF World Economic Outlook
1993–2026 · 38 pts
National Debt (% of GDP) — Philippines
1993 — 2026
National Debt (% of GDP) — Philippines
Analysis# Philippines National Debt (% of GDP)
The Philippines' national debt stood at 58.8% of GDP in 2026, representing a significant recovery from its all-time peak of 73.9% in 1993. Since that peak, the country has reduced its debt burden by 20.4 percentage points. The 2019 all-time low of 37% marked the most favorable position in the data range, demonstrating the nation's capacity for fiscal consolidation over the long term.
A sharp reversal occurred in 2020, when debt jumped to 51.6% of GDP, driven by pandemic-related spending. Since then, the ratio has gradually climbed toward 58.8%, reflecting persistent fiscal pressures. The trajectory from 2020 onward suggests continued upward pressure, with projections showing the debt-to-GDP ratio stabilizing near current levels through 2026.
Historical Data
38 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 55.7% | -1.94% |
| 2029 | 56.8% | -2.07% |
| 2028 | 58.0% | -1.19% |
| 2027 | 58.7% | -0.17% |
| 2026 | 58.8% | +1.03% |
| 2025 | 58.2% | +2.83% |
| 2024 | 56.6% | +0.18% |
| 2023 | 56.5% | -1.57% |
| 2022 | 57.4% | +0.70% |
| 2021 | 57.0% | +10.47% |
| 2020 | 51.6% | +39.46% |
| 2019 | 37.0% | -0.27% |
| 2018 | 37.1% | -2.62% |
| 2017 | 38.1% | +1.87% |
| 2016 | 37.4% | -5.79% |
| 2015 | 39.7% | -1.49% |
| 2014 | 40.3% | -8.20% |
| 2013 | 43.9% | -3.94% |
| 2012 | 45.7% | +0.66% |
| 2011 | 45.4% | -4.62% |
Show all 38 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 47.6% | -4.42% |
| 2009 | 49.8% | -0.40% |
| 2008 | 50.0% | -0.40% |
| 2007 | 50.2% | -12.24% |
| 2006 | 57.2% | -11.59% |
| 2005 | 64.7% | -9.00% |
| 2004 | 71.1% | -0.42% |
| 2003 | 71.4% | +9.51% |
| 2002 | 65.2% | +9.58% |
| 2001 | 59.5% | +0.51% |
| 2000 | 59.2% | +9.23% |
| 1999 | 54.2% | +6.69% |
| 1998 | 50.8% | -10.72% |
| 1997 | 56.9% | +7.16% |
| 1996 | 53.1% | -12.66% |
| 1995 | 60.8% | -4.40% |
| 1994 | 63.6% | -13.94% |
| 1993 | 73.9% | — |
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