The Philippines’ budget deficit widened to PHP 264.3 billion in June 2026 from PHP 241.6 billion in the same month a year earlier. Government revenues increased 2.46% to PHP 314.5 billion, driven by stronger tax collections, which rose 6.86% year-on-year, while non-tax revenues fell 43.53%, largely due to lower Bureau of the Treasury income following the earlier remittance of dividends this year. Meanwhile, expenditures increased 5.51% to PHP 578.7 billion, driven by higher National Tax Allotment shares for local governments, subsidies to government-owned corporations, particularly Food Terminal Inc. for the Rice-for-All Program, and direct development partner payments to suppliers and contractors for the Department of Transportation’s foreign-assisted rail projects. For January-June, the cumulative budget deficit widened to PHP 786.8 billion from PHP 765.5 billion in the same period last year. source: Bureau of the Treasury, Philippines

Philippines recorded a government budget deficit of 264293 PHP Million in June of 2026. Government Budget Value in Philippines averaged -18345.19 PHP Million from 1959 until 2026, reaching an all time high of 165374.00 PHP Million in January of 2026 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 August of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-25 07:15 AM
Budget Balance
May PHP-198.5B PHP31.4B PHP-200.0B
2026-07-23 07:20 AM
Budget Balance
Jun PHP-264.3B PHP-198.5B PHP-280.0B
2026-08-27 08:00 AM
Budget Balance
Jul PHP-264.3B


Related Last Previous Unit Reference
Fiscal Expenditure 578749.00 600212.00 PHP Million Jun 2026
Budget Balance -264293.00 -198467.00 PHP Million Jun 2026
Government Debt to GDP 63.20 60.70 percent of GDP Dec 2025
Government Revenues 314456.00 401745.00 PHP Million Jun 2026


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
-264293.00 -198467.00 165374.00 -400956.00 1959 - 2026 PHP Million Monthly
Current Prices, NSA

News Stream
Philippines Budget Deficit Widens in June
The Philippines’ budget deficit widened to PHP 264.3 billion in June 2026 from PHP 241.6 billion in the same month a year earlier. Government revenues increased 2.46% to PHP 314.5 billion, driven by stronger tax collections, which rose 6.86% year-on-year, while non-tax revenues fell 43.53%, largely due to lower Bureau of the Treasury income following the earlier remittance of dividends this year. Meanwhile, expenditures increased 5.51% to PHP 578.7 billion, driven by higher National Tax Allotment shares for local governments, subsidies to government-owned corporations, particularly Food Terminal Inc. for the Rice-for-All Program, and direct development partner payments to suppliers and contractors for the Department of Transportation’s foreign-assisted rail projects. For January-June, the cumulative budget deficit widened to PHP 786.8 billion from PHP 765.5 billion in the same period last year.
2026-07-23
Philippines Budget Deficit Widens in May
The Philippines’ budget deficit widened to PHP 198.5 billion in May 2026 from PHP 145.2 billion in the corresponding month of the previous year. Government revenues fell 7.2% year-on-year to PHP 401.7 billion, largely due to lower dividend remittances from government-owned and controlled corporations (GOCC) following the early transfer of dividends in previous months. Meanwhile, expenditures rose 3.8% year-on-year to PHP 600.2 billion in May 2026, driven by higher interest payments on debt, larger transfers to local government units, funding for the Bangsamoro region and local government support programs, as well as disbursements for foreign-assisted rail and road infrastructure projects. For January–May, the cumulative budget deficit narrowed slightly to PHP 522.5 billion from PHP 523.9 billion a year ago.
2026-06-25
Philippines Budget Surplus Narrows in April
The Philippines’ budget surplus narrowed to PHP 31.4 billion in April 2026 from PHP 67.3 billion in the same month a year earlier. Total expenditures jumped 11.14% to PHP 505.4 billion, driven by higher National Tax Allotment shares for LGUs, as well as the Annual Block Grant for the BARMM and the Local Government Support Fund. Spending was also supported by increased budgetary assistance to GOCCs and the return of PHP 60.0 billion in excess funds from PhilHealth. Meanwhile, total revenues rose 2.83% year-on-year to PHP 536.8 billion, driven by a 2.62% increase in tax collections and a 7.32% rise in non-tax revenues. For the January–April period, the budget deficit narrowed to PHP 324.1 billion, down 14.44% from PHP 378.7 billion in the same period last year.
2026-05-26