Public Sector · Philippines
Yearly data from 1990 to 2024, from the World Bank.
Philippines's interest payments (current LCU) was 763.31 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 135.57% from 324.03 billion in 2014 (8.95% a year on average, compounded).
| Value | Year | |
|---|---|---|
| Latest | 763.31 billion | 2024 |
| Five years earlier | 360.87 billion | 2019 |
| Ten years earlier | 324.03 billion | 2014 |
| Highest | 763.31 billion | 2024 |
| Lowest | 71.11 billion | 1990 |
| Average since 2015 | 434.68 billion | 2015–2024 |
| First recorded | 71.11 billion | 1990 |
Over five years it is up 111.52% from 360.87 billion in 2019 (16.16% a year on average, compounded). Since 1990 it is up 973.37% from 71.11 billion in 1990 (7.23% a year on average, compounded).
In 2024, Philippines' interest payments (current LCU) rose 21.5% on 2023 (from 628.33 billion to 763.31 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +8% and a typical year strayed about 13% from that (the standard deviation). This year's change was 1.0 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 53.3% in 2000 and the biggest yearly fall was 14.2% in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 45.51 billion a year. A straight line explains 81% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
In 2024, Philippines had the 18th highest value of the 86 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).
| Year | Interest payments (current LCU) |
|---|---|
| 2024 | 763,313,000,000 |
| 2023 | 628,333,000,000 |
| 2022 | 502,858,000,000 |
| 2021 | 429,432,000,000 |
| 2020 | 380,412,170,000 |
| 2019 | 360,874,000,000 |
| 2018 | 349,215,000,000 |
| 2017 | 310,541,000,000 |
| 2016 | 308,160,000,000 |
| 2015 | 313,694,000,000 |
| 2014 | 324,026,000,000 |
| 2013 | 324,764,000,000 |
| 2012 | 316,508,000,000 |
| 2011 | 282,990,000,000 |
| 2010 | 302,835,000,000 |
| 2009 | 288,885,000,000 |
| 2008 | 282,855,000,000 |
| 2007 | 277,303,000,000 |
| 2006 | 323,299,000,000 |
| 2005 | 315,570,000,000 |
| 2004 | 278,430,000,000 |
| 2003 | 241,830,000,000 |
| 2002 | 200,723,000,000 |
| 2001 | 199,580,000,000 |
| 2000 | 162,992,000,000 |
| 1999 | 106,290,000,000 |
| 1998 | 99,792,000,000 |
| 1997 | 77,971,000,000 |
| 1996 | 76,522,000,000 |
| 1995 | 72,658,000,000 |
| 1994 | 79,123,000,000 |
| 1993 | 76,491,000,000 |
| 1992 | 79,540,000,000 |
| 1991 | 74,922,000,000 |
| 1990 | 71,114,000,000 |
Every indicator for Philippines is on the Philippines data page.
World Bank, World Development Indicators, indicator GC.XPN.INTP.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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