Philippines recorded a Government Budget deficit equal to 7.50 percent of the country's Gross Domestic Product in 2020. source: Department of Finance of the Philippine Republic

Government Budget in Philippines averaged -2.32 percent of GDP from 1988 until 2020, reaching an all time high of 1 percent of GDP in 1994 and a record low of -7.50 percent of GDP in 2020. This page provides - Philippines Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Government Budget - values, historical data and charts - was last updated on October of 2021.

Government Budget in Philippines is expected to reach -4.50 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget is projected to trend around -6.50 percent of GDP in 2022 and -2.00 percent of GDP in 2023, according to our econometric models.

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Philippines Government Budget


Philippines Last Unit Reference Previous Highest Lowest
Government Budget -7.50 percent of GDP Dec/20 -3.40 1.00 -7.50


Philippines Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.