Philippines recorded a Government Budget deficit equal to 3 percent of the country's Gross Domestic Product in 2018. Government Budget in Philippines averaged -2.11 percent of GDP from 1988 until 2018, reaching an all time high of 1 percent of GDP in 1994 and a record low of -5.30 percent of GDP in 2002. source: Department of Finance of the Philippine Republic

Government Budget in Philippines is expected to be -1.80 percent of GDP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget is projected to trend around -2.50 percent of GDP in 2020, according to our econometric models.

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Philippines Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-3.20 -2.20 1.00 -5.30 1988 - 2018 percent of GDP Yearly

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.

Philippines Government Last Previous Highest Lowest Unit
Government Debt to GDP 41.90 42.10 74.90 41.90 percent [+]
Government Budget -3.20 -2.20 1.00 -5.30 percent of GDP [+]
Government Budget Value -60900.00 -49262.00 86872.00 -178557.00 PHP Million [+]
Government Spending 272139.90 328018.80 328018.80 62728.31 PHP Million [+]
Government Revenues 304749.00 261553.00 317236.00 81.00 PHP Million [+]
Fiscal Expenditure 365632.00 310815.00 415085.00 107.00 PHP Million [+]
Credit Rating 60.00 [+]
Military Expenditure 3753.00 3755.00 4223.00 513.00 USD Million [+]