Independent think tank IBON Foundation warned that the Marcos Jr administration’s borrowing spree has pushed the country’s debt to unprecedented levels, largely to bankroll what it described as “huge pork barrel projects” rather than essential social services.
According to IBON, national government outstanding debt surged to ₱17.6 trillion as of October 2025, already breaching the official year-end forecast of ₱17.36 trillion. This marks a ₱4.8 trillion (37.3%) increase from the ₱12.79 trillion debt recorded in June 2022 when President Ferdinand Marcos Jr assumed office.
Gross borrowings under the current administration have averaged ₱208.3 billion per month, far outpacing the borrowing rates of previous governments, ₱130.6 billion under Duterte and ₱61.5 billion under Aquino.
Pork Barrel Indicators
IBON highlighted that the debt surge coincides with ballooning allocations for questionable budget items.
– Unprogrammed appropriations, often criticized as pork barrel vehicles, rose sharply from ₱251 billion in 2022 to ₱807 billion in 2023, ₱731.5 billion in 2024, and ₱531.7 billion in 2025.
– Flood control projects also saw record increases, with allocations reaching ₱283.2 billion in 2023, ₱352.8 billion in 2024, and ₱350.5 billion in 2025, the largest in Philippine budget history.
Corruption Concerns
The foundation underscored that ongoing corruption exposés reveal how borrowed funds are being siphoned off through pork barrel insertions, enriching a select few instead of addressing urgent national needs. The Makabayan bloc estimates that as much as ₱695.8 billion in the proposed 2026 budget constitutes presidential and legislative pork.
IBON stressed that these resources could have been directed to ayuda for poor families, schools and health facilities, agricultural support, and small business assistance, sectors that remain underfunded despite mounting economic challenges.
With two months left in 2025, IBON questioned whether government plans to reduce debt before year-end will materialize. The group warned that unless corruption and pork barrel allocations are curbed, the country’s debt will continue to grow “needlessly,” undermining genuine development and worsening inequality. (JCNE)
