🇵🇭 Philippines
Public Sector Debt · 2026
Total Debt
59.9%
of GDP
Global Rank
#90
of 192
S&P Rating
BBB+
Credit rating
SOE Debt
+1.1%
1 categories
Where the Debt Sits
Central Government
Central Government: 58.8%Energy SOEs: 1.1%
Who Holds This Debt
Holder Breakdown
Domestic 75%
Foreign 25%
Domestic: 75%Foreign: 25%
Currency Denomination
Local 70%
Foreign 30%
Local currency: 70%Foreign currency: 30%
Full Debt Breakdown
Central Government58.8% of GDP
Central GovernmentIMF WEO — General Government Debt
58.8%Energy SOEs1.1% of GDP
PSALM (NPC legacy power sector debt)Manila Bulletin / PSALM CorpP274B outstanding. Down from P1.24T peak in 2003.
1.1%Total Corporate Debt33.9% of GDP
NF corporate debt (est.)WB WDI 2020
33.9%Household Debt18.2% of GDP
Household debt (est.)WB WDI 2020
18.2%Unfunded Pension Liabilities60.0% of GDP
SSS + GSIS unfunded pension (est.)World Bank; IMF Equitable Pensions Ch.14SSS fund depleted by 2055 without reform.
60.0%All Layers Total172.0%
Credit Ratings
S&P
BBB+
Moody's
Baa2
Fitch
BBB
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202658.8% GDP
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