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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).
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there were improvements in the last few years of the first decade of the 21st century. [2] The Philippine government's main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and ...
The Philippines’ debt went up to more than 200 percent of exports in the period from 1978 to 1991, [1] so more than half the value of the country’s exports went to debt servicing, rather than imports. [1] By contrast, Thailand and Korea, which did not borrow heavily despite the low interest rates of the early 1970s, fared better in the long ...
Massive lending from commercial banks, accounting for about 62% percent of external debt, allowed the GDP of the Philippines to rise during martial law. [61] Much of the money was spent on pump-priming to improve infrastructure and promote tourism. However, despite the aggressive borrowing and spending policies, the Philippines lagged behind ...
[249] [250] The external debt of the Philippines rose more than 70-fold from $360 million in 1962 to $26.2 billion in 1985, [251] making the Philippines one of the most indebted countries in Asia. [249] The country's total external debt rose from US$2.3 billion in 1970 to US$26.2 billion in 1985 during Marcos's term.
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This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...