The $17.56 Trillion Problem: How a Weak Peso Inflates the PHL's Debt Nightmare

The Bureau of the Treasury (BTr) confirmed a concerning fiscal update for the Philippines: the National Government's (NG) outstanding debt reached $17.562 trillion as of end-October 2025. This figure not only sits just $1 billion short of the all-time peak recorded in July but also significantly overshoots the $17.36 trillion full-year debt program, signalling persistent fiscal strain amplified by external market forces.