The government budget deficit in the Philippines widened sharply to PHP 191.4 billion in March 2021 from PHP 71.6 billion in the same month the previous year. It was the largest deficit in government budget since last December, amid the prolonged coronavirus pandemic. Expenditures surged 22.3 percent to PHP 407.6 billion from PHP 333.2 billion a year ago while revenues plunged 17.4 percent to PHP 216.2 billion from PHP 261.6 billion. Considering the first three months of the year, the country reported a budget deficit of PHP 321.5 billion, far bigger than a PHP 86.2 billion in the corresponding period of 2020. source: Bureau of the Treasury, Philippines
Government Budget Value in Philippines averaged -8721.19 PHP Million from 1959 until 2021, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -302590 PHP Million in December of 2020. 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 May of 2021.
Government Budget Value in Philippines is expected to be -172000.00 PHP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Philippines to stand at -54000.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -69000.00 PHP Million in 2022, according to our econometric models.