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.
Government Budget in Philippines is expected to be -3.20 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 -3.00 percent of GDP in 2020, according to our econometric models.