Philippines’ total debt slows in Q2 2022

The Philippines’ total debt amounted to $429.7 billion in the second quarter of the year, about 2.5% lower than $440.8 billion a year ago, latest data from the Global Debt Monitor report of the Institute of International Finance showed. This infographic shows the sectoral breakdown of the country’s total debt as share of gross domestic product (GDP). During the second quarter, slowdowns were seen in household debt as well as borrowings by the nonfinancial corporates and the financial sector, tempering the increase in Philippine government debt, which rose to 58.3% of the economy from 55.2% a year ago.