The Philippines government's budget deficit narrowed to PHP 313.2 billion in December 2025 from PHP 329.5 billion in the same month a year earlier. Government revenues declined 3.3% year-on-year to PHP 304.3 billion, while expenditures fell at a faster pace of 4.2% to PHP 617.4 billion. Stronger tax collections from the Bureau of Internal Revenue (+11.1%) and the Bureau of Customs (+9.8%) supported to limit the shortfall, although non-tax revenues plunged 59.3% to PHP 25.7 billion. For the full year 2025, the fiscal deficit widened 4.7% to PHP 1,576.8 billion from PHP 1,506.4 billion in 2024. Total revenues inched up 0.8% to PHP 4.5 trillion, driven by a 7.3% rise in tax receipts, while expenditures also increased 1.8% to PHP 6 trillion, driven by higher spending on LGU allocations, interest payments, and civilian salary adjustments that offset cuts to GOCC subsidies. For the full year 2025, the total primary deficit eased to PHP 712.7 billion, down from PHP 743 billion last year. source: Bureau of the Treasury, Philippines

Philippines recorded a government budget deficit of 313173 PHP Million in December of 2025. Government Budget Value in Philippines averaged -17544.24 PHP Million from 1959 until 2025, reaching an all time high of 87951.00 PHP Million in January of 2024 and a record low of -400956.00 PHP Million in December of 2023. This page provides the latest reported value for - Philippines Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-23 08:00 AM
Budget Balance
Nov PHP-157.6B PHP11.2B PHP-180.0B
2026-03-03 07:10 AM
Budget Balance
Dec PHP-313.2B PHP-157.6B PHP-230.0B
2026-03-19 08:00 AM
Budget Balance
Jan PHP-313.2B PHP-90.0B


Related Last Previous Unit Reference
Fiscal Expenditure 617426.00 498305.00 PHP Million Dec 2025
Budget Balance -313173.00 -157565.00 PHP Million Dec 2025
Government Debt to GDP 60.70 60.10 percent of GDP Dec 2024
Government Revenues 304253.00 340740.00 PHP Million Dec 2025


Philippines Government Budget Value
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-313173.00 -157565.00 87951.00 -400956.00 1959 - 2025 PHP Million Monthly
Current Prices, NSA

News Stream
Philippines Budget Deficit Narrows in December
The Philippines government's budget deficit narrowed to PHP 313.2 billion in December 2025 from PHP 329.5 billion in the same month a year earlier. Government revenues declined 3.3% year-on-year to PHP 304.3 billion, while expenditures fell at a faster pace of 4.2% to PHP 617.4 billion. Stronger tax collections from the Bureau of Internal Revenue (+11.1%) and the Bureau of Customs (+9.8%) supported to limit the shortfall, although non-tax revenues plunged 59.3% to PHP 25.7 billion. For the full year 2025, the fiscal deficit widened 4.7% to PHP 1,576.8 billion from PHP 1,506.4 billion in 2024. Total revenues inched up 0.8% to PHP 4.5 trillion, driven by a 7.3% rise in tax receipts, while expenditures also increased 1.8% to PHP 6 trillion, driven by higher spending on LGU allocations, interest payments, and civilian salary adjustments that offset cuts to GOCC subsidies. For the full year 2025, the total primary deficit eased to PHP 712.7 billion, down from PHP 743 billion last year.
2026-03-03
Philippines Budget Deficit Narrows in November
The Philippine government’s budget deficit narrowed to PHP 157.6 billion in November 2025 from PHP 213 billion in the same month last year. Government revenues grew 0.7% year-on-year to PHP 340.7 billion, while expenditures fell 9.6% to PHP 498.3 billion. Strong tax collections from the Bureau of Internal Revenue (+2.7%) and the Bureau of Customs (+3.4%) contributed to the narrower deficit, although non-tax revenues fell 41.6% to PHP 9.3 billion. For January to November 2025 period, the country's budget deficit increased to PHP 1,263.7 billion from PHP 1,176.9 billion in the same period a year earlier. Total revenues rose 1.1% to PHP 4.1 trillion, led by tax receipts (+7.0%), while expenditures grew 2.5% to PHP 5.4 trillion. Total primary deficit eased to PHP 463.2 billion, partly due to delays in some flood control projects amid ongoing probes into alleged corruption.
2025-12-23
Philippines Budget Surplus Widens in October
The government budget surplus in the Philippines widened to PHP 11.2 billion in October 2025, compared with PHP 6.3 billion in the corresponding month of the previous year. Government revenues fell by 6.6% year-on-year to PHP 441.7 billion, driven by a significant decline in non-tax collections. Meanwhile, government expenditures dropped more sharply by 7.8% to PHP 430.6 billion, mainly attributed to reduced infrastructure spending amid the ongoing probe on the DPWH’s flood control issues and review of project implementation. Considering January to October of 2025, the country's budget deficit increased to PHP 1,106.1 billion from PHP 963.9 billion in the same period a year earlier. Total revenues rose 1.1% to PHP 3.8 trillion, led by tax receipts (+7.5%), while expenditures grew 3.9% to PHP 4.9 trillion.
2025-11-26