Interest payments in Philippines
Philippines: Interest payments was 15.3% in 2023. ▼ Falling
Interest payments in Philippines, 1990–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
The most recent figure for interest payments in Philippines is 15.3%, measured in 2023.
That represents a change of up 24.8% on the previous year and down 25.0% over ten years.
Over the whole period, interest payments in Philippines peaked at 39.4% in 1990 and was at its lowest, 10.8%, in 2020.
That places Philippines 25th out of 152 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently falling across the 28 years of available data.
Interest payments in Philippines, year by year
| Year | % of expense | Change |
|---|---|---|
| 1990 | 39.4% | — |
| 1991 | 37.5% | -4.7% |
| 1992 | 36.3% | -3.2% |
| 1993 | 32.6% | -10.2% |
| 2000 | 28.1% | -13.9% |
| 2001 | 30.3% | +7.9% |
| 2002 | 28.4% | -6.2% |
| 2003 | 31.4% | +10.7% |
| 2004 | 34.3% | +9.1% |
| 2005 | 32.3% | -5.8% |
| 2006 | 33.9% | +4.8% |
| 2007 | 27.7% | -18.1% |
| 2008 | 25.9% | -6.7% |
| 2009 | 23.7% | -8.3% |
| 2010 | 23.4% | -1.6% |
| 2011 | 20.6% | -11.7% |
| 2012 | 21.1% | +2.4% |
| 2013 | 20.4% | -3.4% |
| 2014 | 19.1% | -6.2% |
| 2015 | 16.7% | -12.8% |
| 2016 | 15.2% | -9.2% |
| 2017 | 13.8% | -9.1% |
| 2018 | 13.5% | -2.4% |
| 2019 | 12.5% | -7.2% |
| 2020 | 10.8% | -13.2% |
| 2021 | 11.6% | +6.7% |
| 2022 | 12.3% | +6.1% |
| 2023 | 15.3% | +24.8% |
Philippines compared with similar countries
- Philippines's 15.3% is above the median for upper middle income countries, which is 8.8%, 1.7× the median. (47 countries reporting)
- Philippines's 15.3% is above the median for East Asia & Pacific, which is 3.0%, 5.2× the median. (23 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 36.5% | 32.6% | 39.4% | 4 |
| 2000s | 29.6% | 23.7% | 34.3% | 10 |
| 2010s | 17.6% | 12.5% | 23.4% | 10 |
| 2020s | 12.5% | 10.8% | 15.3% | 4 |
Countries ranked near Philippines
More public sector data for Philippines
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Frequently asked questions
- What is interest payments in Philippines?
- Interest payments in Philippines was 15.3% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest interest payments recorded in Philippines?
- The highest recorded value was 39.4% in 1990.
- What is the lowest interest payments recorded in Philippines?
- The lowest recorded value was 10.8% in 2020.
- How does Philippines rank for interest payments?
- Philippines ranks 25th out of 152 countries with data for 2023.
- Is interest payments rising or falling in Philippines?
- Over the last ten years it is down 25.0%. The long-run trend across the full record is falling.
- 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 Interest payments (% of expense). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 28 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
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 as percentage of total expenses which is any decrease in net worth resulting from a transaction.