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The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines. As of the end of October 2024, the total national debt of the Philippines amounts to ₱15.1889 trillion ($273.9 billion).
Between 1962 and 1986, the external debt of the Philippine grew from $355 million to $28.3 billion. By the end of the Marcos years, the Philippines was the "ninth most indebted nation in Asia, Africa, and Latin America in absolute terms". [citation needed]
Philippine external debt was at $4.1 billion in 1975, but doubled to $8.2 billion in only two years. [1] Loans with low interest rates fueled by these petrodollars funded the 11 major industrial projects Marcos announced in his 1970 State of the Nation Address, as well as roads, bridges, dams, irrigation systems, communications infrastructure ...
When they entered the White House, the budget deficit was a pandemic-influenced $2.3 trillion, and it was set to fall to $905 billion by 2024. It's now twice what it was supposed to be.
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Crucial debt ceiling negotiations are still far from success, but a deal is possible by the end of the week, Republican House Speaker Kevin McCarthy said after a brief meeting Tuesday with ...
In 2010, the total outstanding debt of the Philippines reached ₱4.718 trillion: ₱2.718 trillion from outstanding domestic sources and ₱2 trillion from foreign sources. According to the Department of Finance, the country has recently reduced dependency on external sources to minimize the risks caused by changes in the global exchange rates.
During a Friday speech about the September jobs report, President Joe Biden delivered a rapid-fire series of three false or misleading claims – falsely saying that he has cut the debt, falsely ...