Malaysia vs Philippines: Government debt

Government debt in 2025: 70.5% of GDP in Malaysia and 59.1% of GDP in Philippines, by IMF estimates. In 2025 the value was higher in Malaysia, by 11.4 percentage points, or 1.19 times that in Philippines.

Watch it change on the map

% of GDP · IMF

MalaysiaPhilippinesIMF projection (World Economic Outlook, October 2026)

What the numbers say

Malaysia has been higher since 2009, when it overtook Philippines.
The IMF projection (World Economic Outlook, October 2026) puts Malaysia at 65.1% of GDP and Philippines at 56.4% of GDP in 2031.

Every year

% of GDP · IMF

Year	Malaysia	Philippines
2025	70.5	59.1
2024	69.8	56.6
2023	69.7	56.5
2022	65.5	57.4
2021	69.2	57
2020	67.7	51.6
2019	57.1	37
2018	55.7	37.2
2017	54.4	38.1
2016	55.8	37.4
2015	57	39.7
2014	55.4	40.3
2013	55.7	43.9
2012	53.8	45.7
2011	51.9	45.4
2010	51.2	47.6
2009	50.4	49.8
2008	39.4	50
2007	39.4	50.2
2006	39.7	57.2
2005	40.8	64.7
2004	42	71.1
2003	41.4	71.4
2002	39.5	65.2
2001	38.1	59.5
2000	32.5	59.2
1999	34.4	54.2
1998	33.6	50.8
1997	29.6	56.9
1996	32.8	53.1
1995	38.2	60.9
1994	43.7	63.6
1993	51.1	73.9
1992	59.1	–
1991	67.3	–
1990	74.1	–

IMF projection (World Economic Outlook, October 2026) · 2026–2031

Year	Malaysia	Philippines
2026	69.2	60.5
2027	68.8	60.5
2028	67.7	60.4
2029	66.7	59.7
2030	65.9	58.2
2031	65.1	56.4

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

Malaysia vs Philippines: Government debt

What the numbers say

Every year

Each country on its own

Good to know

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