How does the Philippines’ sectoral debt as a share of GDP compare with other emerging markets in East and Southeast Asia in Q1 2025?

The Philippines’ total debt grew by 4.6% to $477.7 billion in the first three months of the year from $456.5 billion in the same period in 2024, latest figures from the Global Debt Monitor of the Institute of International Finance (IIF) showed. The country’s household and nonfinancial corporates’ debt as a share of gross domestic product (GDP) dipped during the period from a year earlier. Meanwhile, the government’s share grew while the financial sector remained flat. Published quarterly, the Global Debt Monitor tracks indebtedness by sector across key mature and emerging markets, offering a unique like-for-like comparison across countries.