Lubog sa utangOur national debt has hovered around 62 percent of GDP in recent years. There is no better way of delivering this worrisome message than this tagalog description of our situation: lubog sa utang or drowning in debt. In 2022, our national debt grew by 14.4 percent from 2021 while GDP grew by 7.6 percent. In 2023, national debt grew by 8.9 percent while GDP grew by 5.5 percent. In 2024, national debt grew by 9.8 percent while GDP grew by 5.6 percent.

Source: Philippine Star January 15, 2026 21:59 UTC