Indonesia vs Philippines

Indonesia vs Philippines: Government debt

Government debt in 2025: 40.9% of GDP in Indonesia and 59.1% of GDP in Philippines, by IMF estimates. In 2025 the value was higher in Philippines, by 18.3 percentage points, or 1.45 times that in Indonesia.

% of GDP · IMF

Indonesia vs Philippines: Government debtGovernment debt in 2025: 40.9% of GDP in Indonesia and 59.1% of GDP in Philippines, by IMF estimates. In 2025 the value was higher in Philippines, by 18.3 percentage points, or 1.45 times that in Indonesia.
IndonesiaPhilippinesIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • Philippines has been higher since 2002, when it overtook Indonesia.
  • The IMF projection (World Economic Outlook, October 2026) puts Indonesia at 41.6% of GDP and Philippines at 56.4% of GDP in 2031.

Every year

% of GDP · IMF

YearIndonesiaPhilippines
202540.959.1
202440.256.6
202339.656.5
202240.157.4
202141.157
202039.851.6
201930.637
201830.437.2
201729.438.1
20162837.4
20152739.7
201424.640.3
201324.943.9
20122345.7
201123.145.4
201026.447.6
200926.549.8
200830.350
200738.150.2
200635.957.2
200542.664.7
200451.371.1
200355.671.4
200262.365.2
200173.759.5
200087.459.2
1999–54.2
1998–50.8
1997–56.9
1996–53.1
1995–60.9
1994–63.6
1993–73.9
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearIndonesiaPhilippines
202641.760.5
202741.660.5
202841.460.4
202941.559.7
203041.658.2
203141.656.4

Each country on its own

Good to know

  • What the government owes, as a share of the economy’s yearly output.
  • Source: IMF, World Economic Outlook, October 2026.
  • The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
  • Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time

Indonesia vs Philippines

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