Critics of President Ferdinand Marcos Jr. have been quick to blame him for the Philippines’ rising national debt, but they are comparing apples with oranges.

The fact is, when Marcos assumed office in 2022, the country’s debt was already at ₱12.09 trillion, largely due to loans incurred by the Duterte administration to fund pandemic response and infrastructure projects.

As of 2025, the national debt has increased further, but attributing the entire rise to Marcos alone is misleading. Debt accumulation is a continuous process influenced by past and present policies, global economic conditions, and interest rates. The reality is that much of the current debt stems from obligations inherited from Duterte.

While fiscal responsibility remains crucial, critics should acknowledge the full context rather than cherry-pick numbers to suit a narrative. After all, debt doesn’t reset with a new president—it compounds over time.