PH gov’t debt servicing rose anew in May

MANILA, Philippines – The debt service bill of the Philippine government increased again in May as both interest payments and principal repayments sustained their climb, according to the Bureau of the Treasury (BTr).

Latest data from the BTr showed the amount climbed to P97.18 billion in May, up by more than 21 percent from P80.05 billion in the same month last year.

READ: Gov’t debt payments up 12% in April

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The latest figure pushed the Marcos administration’s total debt service payments in the first five months of the year to P1.15 trillion, ballooning by 63 percent from P703 billion in the same period in 2025. The amount now accounts for more than half of the government’s P2.005-trillion borrowing program for 2026.

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Principal repayments or amortization jumped 24.6 percent to P12.58 billion in May from P10.09 billion a year earlier.

The government did not make principal repayments on domestic debt during the month, with all amortization payments going to external creditors.

READ: PH debt hits new peak at P18.55T

Since the start of this year, the government has already spent P728.2 billion on principal repayments. This was more than double the P346 billion recorded in the comparable period last year, driving the sharp increase in the five-month debt service.

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Interest payments, which accounted for the bulk of the May debt service bill, also continued to rise. The government paid P84.6 billion in interest during the month, up by nearly 21 percent from P70 billion a year earlier.

From January to May, interest expenses reached P421.3 billion, about 18 percent higher than the P357 billion recorded in the same period in 2025. INQ

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