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. source: Bureau of the Treasury, Philippines

Philippines recorded a government budget surplus of 31436 PHP Million in April of 2026. Government Budget Value in Philippines averaged -17817.87 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 June of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-23 08:35 AM
Budget Balance
Mar PHP-349.7B PHP-171.2B PHP -400.0B
2026-05-26 06:15 AM
Budget Balance
Apr PHP31.4B PHP-349.7B PHP200.0B
2026-06-25 08:00 AM
Budget Balance
May PHP31.4B


Related Last Previous Unit Reference
Fiscal Expenditure 505409.00 654750.00 PHP Million Apr 2026
Budget Balance 31436.00 -349662.00 PHP Million Apr 2026
Government Debt to GDP 63.20 60.70 percent of GDP Dec 2025
Government Revenues 536845.00 305088.00 PHP Million Apr 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
31436.00 -349662.00 165374.00 -400956.00 1959 - 2026 PHP Million Monthly
Current Prices, NSA

News Stream
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
Philippines Budget Deficit Widens in March
The Philippines’ budget deficit widened to PHP 349.7 billion in March 2026 from PHP 342.9 billion in the corresponding month of the previous year. This marked the largest deficit since a record high in December 2023. Total revenues rose 9.25% year-on-year to PHP 305.1 billion, driven by a 6.51% increase in tax collections and a 45.54% surge in non-tax revenues. Total expenditures increased 5.23% to PHP 654.8 billion, led by higher National Tax Allotment shares of LGUs, as well as releases for their Special Shares in the Proceeds of National Taxes – Tobacco Excise tax and the Local Government Support Fund. Spending was also buoyed by higher budgetary assistance to GOCCs and PHP 20.0 billion in releases to the DOE for the government’s Emergency Energy Program, aimed at boosting fuel supply amid Middle East tensions. For the first quarter of the year, the country recorded a budget shortfall of PHP 355.5 billion, narrowing from PHP 446.0 billion in the same period last year.
2026-04-23
Philippines Budget Deficit Narrows Slightly in February
The Philippines posted a budget deficit of PHP 171.2 billion in February 2026, slightly narrowing from the PHP 171.4 billion shortfall recorded in the same month a year ago. Total revenues surged 43.52% year-on-year to PHP 361.3 billion, driven by a sharp increase in non-tax revenues, reflecting the earlier-than-usual remittance of 2025-earned dividends. Total expenditures climbed 25.83% to PHP 532.5 billion, largely due to the spillover of January’s National Tax Allotment (NTA) and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) block grant releases into early February, as well as releases for the Special Shares of LGUs in the Proceeds of National Taxes – Tobacco Excise Tax. For the January–February period, the budget deficit shrank to PHP 5.8 billion, a significant decline of 94.35% from PHP 103.1 billion in the corresponding period last year.
2026-04-07