The Philippines' government budget deficit widened sharply to PHP 40.1 billion in August 2020 from PHP 2.5 billion in the same month the previous year, amid the coronavirus pandemic. Expenditures rose 0.4 percent to PHP 283.3 billion from PHP 282.2 billion a year ago while revenues fell 13 percent to 243.2 billion from PHP 279.7 billion. For the first seven months of the year, the country reported a budget deficit of PHP 740.7 billion, far larger than PHP 72.6 billion gap in the corresponding period of 2019.
Government Budget Value in Philippines averaged -7472.85 PHP Million from 1959 until 2020, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -273881 PHP Million in April 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 October of 2020. source: Bureau of the Treasury, Philippines
Government Budget Value in Philippines is expected to be -131500.00 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 -114500.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -90000.00 PHP Million in 2021 and -89000.00 PHP Million in 2022, according to our econometric models.