The Philippine government’s debt hit ₱17.56 trillion at the end of October this year, reflecting an increase of ₱106.78 billion or 0.61 percent from the previous month.

The debt rose as the government continued borrowing from domestic and foreign sources and as the Philippine peso depreciated against the US dollar. The peso fell from ₱58.149 in September to ₱58.771 in October.

Domestic debt, which accounts for 68.6 percent of the total debt stock, climbed to ₱12.05 trillion, rising by ₱72.43 billion as net government loans reached ₱70.65 billion. The peso’s depreciation added ₱1.78 billion to the local currency valuation of retail dollar bonds (RDBs).

Foreign debt rose to ₱5.52 trillion, higher than the prior month’s figure by ₱34.35 billion or 0.63 percent. The increase was driven by the net availment of loans amounting to ₱8.25 billion and upward adjustments in the peso equivalent of foreign currency debt totaling ₱26.10 billion.

The weakening of the peso added ₱58.64 billion to the debt, partially offset by appreciation against other currencies, which reduced the total by ₱32.54 billion.

According to a report, the government has added ₱1.51 trillion to the country’s debt since the beginning of 2025.