The government budget deficit in the Philippines widened sharply to PHP 39.1 billion in November 2018 from PHP 8.6 billion in the same month of the previous year. Spending jumped 18.5 percent to PHP 298.8 billion from PHP 252.1 billion a year ago, while revenues went up at a softer 6.7 percent to PHP 259.7 billion from PHP 243.5 billion. Considering January to November, the budget gap soared to PHP 477.2 billion from PHP 243.5 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 -5521.41 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.