The Philippines’ budget deficit widened sharply to PHP 161.3 billion in August 2026 from PHP 84.8 billion in the corresponding month of the previous year. Total revenues declined 1.85% year-on-year to PHP 346 billion, driven largely by a 35.59% drop in non-tax revenues, while tax collections increased 0.32%. Total expenditures soared 16.0% to PHP 507.3 billion, mainly due to higher health insurance funding for low-income people, senior citizens, and other eligible patients, as well as larger tax transfers to local governments. Primary expenditures rose 18.03%, accounting for 87.06% of total spending, while interest payments grew 3.98% amid higher debt servicing costs and foreign-exchange fluctuations. In the January–August period, the country recorded a budget shortfall of PHP 1,054.3 billion, up from PHP 869.2 billion in the same period last year. source: Bureau of the Treasury, Philippines

Philippines recorded a government budget deficit of 161300 PHP Million in August of 2026. Government Budget Value in Philippines averaged -18629.45 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 October of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-27 06:30 AM
Budget Balance
Jul PHP-106.3B PHP-264.3B PHP-220.0B
2026-09-24 08:30 AM
Budget Balance
Aug PHP-161.3B PHP-106.3B PHP-150.0B
2026-10-22 08:00 AM
Budget Balance
Sep PHP-161.3B PHP-175.0B


Related Last Previous Unit Reference
Fiscal Expenditure 507257.00 588556.00 PHP Million Aug 2026
Budget Balance -161252.00 -106263.00 PHP Million Aug 2026
Government Debt to GDP 63.20 60.70 percent of GDP Dec 2025
Government Revenues 346005.00 482293.00 PHP Million Aug 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
-161252.00 -106263.00 165374.00 -400956.00 1959 - 2026 PHP Million Monthly
Current Prices, NSA

News Stream
Philippines Budget Deficit Widens in August
The Philippines’ budget deficit widened sharply to PHP 161.3 billion in August 2026 from PHP 84.8 billion in the corresponding month of the previous year. Total revenues declined 1.85% year-on-year to PHP 346 billion, driven largely by a 35.59% drop in non-tax revenues, while tax collections increased 0.32%. Total expenditures soared 16.0% to PHP 507.3 billion, mainly due to higher health insurance funding for low-income people, senior citizens, and other eligible patients, as well as larger tax transfers to local governments. Primary expenditures rose 18.03%, accounting for 87.06% of total spending, while interest payments grew 3.98% amid higher debt servicing costs and foreign-exchange fluctuations. In the January–August period, the country recorded a budget shortfall of PHP 1,054.3 billion, up from PHP 869.2 billion in the same period last year.
2026-09-24
Philippines Budget Deficit Widens Sharply in July
The Philippines’ budget deficit widened sharply to PHP 106.3 billion in July 2026 from PHP 18.9 billion in the corresponding month of the previous year. Total revenues rose 2.12% year-on-year to PHP 482.3 billion, with a 7.02% increase in tax collections partly offset by a 39.92% decline in non-tax revenues, mainly due to the timing of BSP dividend remittances. Total expenditures soared 19.82% to PHP 588.6 billion, led by higher disbursements for social assistance programs to help address the impact of the Middle East conflict, as well as defense modernization initiatives and foreign-assisted rail transport projects. Primary expenditures rose 17.25%, accounting for 76.69% of total spending, while interest payments jumped 29.14% amid higher debt servicing costs and foreign-exchange fluctuations. For the first seven months of the year, the country recorded a budget shortfall of PHP 893.1 billion, higher than PHP 784.4 billion in the same period last year.
2026-08-27
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