The government budget deficit in the Philippines widened sharply to PHP 59.9 billion in October 2018 from PHP 21.8 billion in the same month of the previous year. Spending jumped 35.2 percent to PHP 306.6 billion from PHP 226.9 billion a year ago, while revenues went up at a softer 20.3 percent to PHP 246.7 billion from PHP 205.1 billion. Considering January to October, the budget gap soared to PHP 438.1 billion from PHP 234.9 billion in the corresponding period of 2017. For 2018, the government has programmed a budget deficit of PHP 523.6 billion, or 3 percent of GDP, up from the PHP 350.6 billion deficit recorded a year earlier. Government Budget Value in Philippines averaged -5474.62 PHP Million from 1959 until 2018, reaching an all time high of 80852 PHP Million in April of 2014 and a record low of -118229 PHP Million in December of 2016.

Government Budget Value in Philippines is expected to be -82000.00 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 13000.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -87000.00 PHP Million in 2020, according to our econometric models.

Philippines Government Budget Value
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-22 07:40 AM Budget Balance PHP-86.4B PHP-54.3B PHP -28.9B
2018-09-24 06:00 AM Budget Balance PHP-2.6B PHP-86.4B PHP -29B
2018-10-22 07:00 AM Budget Balance PHP-96.2B PHP-2.6B PHP 22B
2018-11-26 02:30 AM Budget Balance PHP-59.9B PHP-96.2B PHP -29B
2018-12-26 02:00 AM Budget Balance PHP-59.9B PHP 3B
2019-02-27 02:00 AM Budget Balance PHP -12B
2019-03-23 02:50 AM Budget Balance

Philippines Government Last Previous Highest Lowest Unit
Government Debt to GDP 42.10 42.10 74.90 42.10 percent [+]
Government Budget -2.20 -2.40 1.00 -5.30 percent of GDP [+]
Government Budget Value -59865.00 -96247.00 80852.00 -118229.00 PHP Million [+]
Government Spending 250174.31 308024.77 308024.77 62728.31 PHP Million [+]
Government Revenues 246762.00 202351.00 307558.00 81.00 PHP Million [+]
Fiscal Expenditure 306627.00 298598.00 330240.00 107.00 PHP Million [+]
Credit Rating 53.12 [+]
Military Expenditure 4507.80 3721.60 4507.80 541.70 USD Million [+]

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. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-59865.00 -96247.00 80852.00 -118229.00 1959 - 2018 PHP Million Monthly
Current Prices, NSA

Country Last Previous
Argentina -16585.90 Oct/18
Australia 999.00 Oct/18
Brazil -6107.00 Oct/18
Canada -1356.00 Sep/18
China 100.80 Oct/18
France -86.98 Oct/18
Germany 36.06 Jun/18
India -6485.83 Oct/18
Indonesia -347356.70 Dec/17
Italy -6.06 Oct/18
Japan -113831.00 Jun/18
Mexico 35850.40 Oct/18
Netherlands -8.90 Sep/18
Russia 3394.30 Nov/18
Saudi Arabia -238494.00 Dec/17
Singapore 1826.60 Sep/18
South Africa -37930.00 Oct/18
South Korea 28653.00 Oct/18
Spain -8384.00 Oct/18
Switzerland 1373.00 Dec/18
Turkey -8515327.00 Oct/18
United Kingdom -3357.00 Oct/18
United States -205000.00 Nov/18