The country’s outstanding debt climbed to ₱18.16 trillion by the end of February 2026, according to the Bureau of the Treasury (BTr).
This reflects a modest increase from the previous month but remains within what officials described as a stable and well-managed debt position.
Data released by the Treasury on Wednesday, April 1, showed that the figure rose by ₱25.74 billion, or 0.14 percent, compared to the ₱18.13 trillion recorded in January 2026. Year-on-year, the national debt increased by ₱1.53 trillion from the ₱16.63 trillion recorded in February 2025.
Despite the uptick, the Treasury emphasized that the country’s debt profile remains steady.
“The modest uptick underscores the government’s stable and well-managed debt position amid evolving global financial conditions,” the agency said.
Officials attributed the rise largely to the government’s continued reliance on domestic borrowing, which they said helps shield the country from external financial risks.
“This was largely driven by the continued prioritization of domestic financing to protect the government’s debt position from unfavorable external developments,” the BTr added.
As of February 2026, domestic debt accounted for 68.7 percent of the total.
“With domestic debt accounting for 68.7% of the total, the NG maintains a prudent debt profile that minimizes vulnerability to foreign exchange (forex) fluctuations,” the agency said.
The Treasury noted that this strategy forms part of a broader effort to strengthen fiscal resilience while navigating uncertain global financial