The government budget deficit in the Philippines increased to PHP 180.92 billion in September 2021 from PHP 138.52 billion in the same month a year earlier, pointing to the largest budget gap since May amid the ongoing COVID-19 pandemic. Spending rose 17.5 percent to PHP 412.36 billion from PHP 350.94 billion a year ago while revenues rose at a softer 8.9 percent to PHP 231.44 billion from PHP 212.41 billion. Considering the first nine months of the year, the budget deficit went up to PHP 1,139.62 billion from PHP 878.69 billion in the corresponding period of 2020. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -9737.48 PHP Million from 1959 until 2021, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -302590 PHP Million in December 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 2021.

Government Budget Value in Philippines is expected to be -54000.00 PHP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget Value is projected to trend around -69000.00 PHP Million in 2022, according to our econometric models.

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Philippines Government Budget Value


Calendar GMT Actual Previous Consensus TEForecast
2021-09-23 02:00 AM Aug PHP-120.9B PHP-121B PHP-82B
2021-10-25 02:30 AM Sep PHP-180.9B PHP-120.9B PHP -126.5B
2021-11-24 04:00 AM Oct PHP-180.9B


News Stream
Philippines Government Budget Deficit Widens
The government budget deficit in the Philippines increased to PHP 180.92 billion in September 2021 from PHP 138.52 billion in the same month a year earlier, pointing to the largest budget gap since May amid the ongoing COVID-19 pandemic. Spending rose 17.5 percent to PHP 412.36 billion from PHP 350.94 billion a year ago while revenues rose at a softer 8.9 percent to PHP 231.44 billion from PHP 212.41 billion. Considering the first nine months of the year, the budget deficit went up to PHP 1,139.62 billion from PHP 878.69 billion in the corresponding period of 2020.
2021-10-25
Philippines Budget Gap Jumps in August
The government budget deficit in the Philippines widened sharply to PHP 120.9 billion in August 2021 from PHP 40.07 billion in the same month a year earlier, reflecting the severe impact of the COVID-19 pandemic. Spending jumped 34.2 percent to PHP 380.19 billion from PHP 283.31 billion a year ago while revenues increased at a softer 6.6 percent to PHP 259.25 billion from PHP 243.23 billion. Considering the first eight months of the year, the budget deficit increased to PHP 958.7 billion from PHP 740.17 billion in the corresponding period of 2020.
2021-09-23
Philippines Budget Gap Smallest in 3 Months
The government budget deficit in the Philippines narrowed to PHP 121.2 billion in July 2021 from PHP 140.2 billion in the same month a year earlier. It was the smallest budget deficit since April, as revenues rose more than expenditures, amid an ongoing coronavirus pandemic. Expenditures edged up 0.7 percent to PHP 377.3 billion from PHP 374.7 billion a year ago while revenues increased 9.2 percent to PHP 256.1 billion from PHP 234.5 billion. Considering the first seven months of the year, the country reported a budget deficit of PHP 837.3 billion, much bigger than a PHP 700.1 billion in the corresponding period of 2020.
2021-08-24

Philippines Last Unit Reference Previous Highest Lowest
Government Debt to GDP 53.50 percent of GDP Dec/20 39.60 74.90 39.60
Government Budget Value -180916.00 PHP Million Sep/21 -120900.00 86872.00 -302590.00
Government Revenues 259252.00 PHP Million Aug/21 256071.00 350977.00 81.00
Fiscal Expenditure 380188.00 PHP Million Aug/21 377257.00 541138.00 107.00


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.