Net incurrence of liabilities, total in Philippines
Philippines: Net incurrence of liabilities, total was 1.28 trillion current LCU in 2024. ◆ Volatile
Net incurrence of liabilities, total in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Philippines recorded 1.28 trillion current LCU for net incurrence of liabilities, total in 2024.
Compared with earlier readings it is down 5.2% on the previous year and up 1,023.3% over ten years.
Over the whole period, net incurrence of liabilities, total in Philippines peaked at 2.07 trillion current LCU in 2020 and was at its lowest, -62.08 billion current LCU, in 1994.
That places Philippines 28th out of 136 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 20.44 billion current LCU | -62.08 billion current LCU | 106.68 billion current LCU | 10 |
| 2000s | 202.20 billion current LCU | 116.04 billion current LCU | 286.21 billion current LCU | 10 |
| 2010s | 319.36 billion current LCU | 98.98 billion current LCU | 606.04 billion current LCU | 10 |
| 2020s | 1.59 trillion current LCU | 1.28 trillion current LCU | 2.07 trillion current LCU | 5 |
Countries ranked near Philippines
More public sector data for Philippines
- Arms imports 238.00 million SIPRI trend indicator values (2024)
- Tax revenue 14.4% (2024)
- Taxes on income, profits and capital gains 34.7% (2024)
- Taxes on goods and services 25.3% (2024)
- Net investment in nonfinancial assets 5.0% (2024)
- Net lending (+) / net borrowing (-) -5.7% (2024)
- Interest payments 17.3% (2024)
- Grants and other revenue 13.9% (2024)
- Interest payments 15.3% (2023)
- Other taxes 5.3% (2024)
Frequently asked questions
- What is net incurrence of liabilities, total in Philippines?
- Net incurrence of liabilities, total in Philippines was 1.28 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Philippines?
- The highest recorded value was 2.07 trillion current LCU in 2020.
- What is the lowest net incurrence of liabilities, total recorded in Philippines?
- The lowest recorded value was -62.08 billion current LCU in 1994.
- How does Philippines rank for net incurrence of liabilities, total?
- Philippines ranks 28th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Philippines?
- Over the last ten years it is up 1,023.3%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (current LCU). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. 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.