Philippines recorded a Government Budget deficit equal to 5.70 percent of the country's Gross Domestic Product in 2024. Government Budget in Philippines averaged -2.82 percent of GDP from 1988 until 2024, reaching an all time high of 1.00 percent of GDP in 1994 and a record low of -8.60 percent of GDP in 2021. source: Department of Finance of the Philippine Republic
Government Budget in Philippines is expected to reach -5.40 percent of GDP by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget is projected to trend around -5.00 percent of GDP in 2026 and -5.10 percent of GDP in 2027, according to our econometric models.