Net incurrence of liabilities, total (current LCU) in Philippines
Philippines: Net incurrence of liabilities, total (current LCU) 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 29th 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.
Net incurrence of liabilities, total (current LCU) in Philippines, year by year
| Year | current LCU | Change |
|---|---|---|
| 1990 | 19.77 billion current LCU | — |
| 1991 | 42.99 billion current LCU | +117.5% |
| 1992 | 106.68 billion current LCU | +148.1% |
| 1993 | -9.60 billion current LCU | -109.0% |
| 1994 | -62.08 billion current LCU | +546.6% |
| 1995 | -23.41 billion current LCU | -62.3% |
| 1996 | 24.87 billion current LCU | -206.2% |
| 1997 | -34.59 billion current LCU | -239.1% |
| 1998 | 67.07 billion current LCU | -293.9% |
| 1999 | 72.67 billion current LCU | +8.4% |
| 2000 | 204.07 billion current LCU | +180.8% |
| 2001 | 173.43 billion current LCU | -15.0% |
| 2002 | 277.15 billion current LCU | +59.8% |
| 2003 | 286.21 billion current LCU | +3.3% |
| 2004 | 276.46 billion current LCU | -3.4% |
| 2005 | 182.51 billion current LCU | -34.0% |
| 2006 | 116.04 billion current LCU | -36.4% |
| 2007 | 136.91 billion current LCU | +18.0% |
| 2008 | 127.39 billion current LCU | -7.0% |
| 2009 | 241.78 billion current LCU | +89.8% |
| 2010 | 359.81 billion current LCU | +48.8% |
| 2011 | 124.15 billion current LCU | -65.5% |
| 2012 | 594.71 billion current LCU | +379.0% |
| 2013 | 231.12 billion current LCU | -61.1% |
| 2014 | 113.66 billion current LCU | -50.8% |
| 2015 | 123.86 billion current LCU | +9.0% |
| 2016 | 98.98 billion current LCU | -20.1% |
| 2017 | 606.04 billion current LCU | +512.3% |
| 2018 | 505.61 billion current LCU | -16.6% |
| 2019 | 435.67 billion current LCU | -13.8% |
| 2020 | 2.07 trillion current LCU | +375.9% |
| 2021 | 1.74 trillion current LCU | -16.3% |
| 2022 | 1.49 trillion current LCU | -13.9% |
| 2023 | 1.35 trillion current LCU | -9.9% |
| 2024 | 1.28 trillion current LCU | -5.2% |
Philippines compared with similar countries
- Philippines's 1.28 trillion current LCU is above the median for upper middle income countries, which is 48.87 billion current LCU, 26.1× the median. (47 countries reporting)
- Philippines's 1.28 trillion current LCU is above the median for East Asia & Pacific, which is 3.15 billion current LCU, 405.8× the median. (24 countries reporting)
Biggest year-on-year movements
Years where Net incurrence of liabilities, total (current LCU) in Philippines changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1994 | -546.6% | -9.60 billion current LCU | -62.08 billion current LCU |
| 2017 | +512.3% | 98.98 billion current LCU | 606.04 billion current LCU |
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
- 26 Democratic Republic of Congo 1.39 trillion current LCU compare
- 27 Rwanda 1.32 trillion current LCU compare
- 28 Costa Rica 1.29 trillion current LCU compare
- 30 Laos 1.27 trillion current LCU compare
- 31 Lebanon 1.13 trillion current LCU compare
- 32 Burkina Faso 900.19 billion current LCU compare
More public sector data for Philippines
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 846.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 2.05 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 90.4 % change on previous year (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 29th 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.
Download this data
CSV · JSON — 35 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.