Philippines
PH Debt Bill Explodes: Nearly All of July’s Debt Payments Went to Interest—Here’s What It Means for Filipinos
The Philippine government faced another sharp increase in debt-servicing costs in July, with interest payments consuming almost the entire amount spent on servicing the national debt during the month. According to the latest data from the Bureau of the Treasury (BTr), the national government spent ₱139.99 billion on debt service in July 2026, up 29.55 percent from ₱108.06 billion during the same month last year. The overwhelming bulk went toward interest. Interest payments reached ₱137.18 bil
