Philippines recorded a Government Budget deficit equal to 3.50 percent of the country's Gross Domestic Product in 2019.

Government Budget in Philippines averaged -2.16 percent of GDP from 1988 until 2019, reaching an all time high of 1 percent of GDP in 1994 and a record low of -5.30 percent of GDP in 2002. 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 2020. source: Department of Finance of the Philippine Republic

Government Budget in Philippines is expected to reach -6.50 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget is projected to trend around -5.50 percent of GDP in 2021 and -4.50 percent of GDP in 2022, according to our econometric models.

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Philippines Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-3.50 -3.20 1.00 -5.30 1988 - 2019 percent of GDP Yearly

Philippines Government Last Previous Highest Lowest Unit
Government Debt to GDP 41.50 41.80 74.90 41.50 percent [+]
Government Budget -3.50 -3.20 1.00 -5.30 percent of GDP [+]
Government Budget Value -40074.00 -140208.00 86872.00 -273881.00 PHP Million [+]
Government Spending 854691.94 563543.97 854691.94 62728.31 PHP Million [+]
Government Revenues 243232.00 234468.00 350977.00 81.00 PHP Million [+]
Fiscal Expenditure 283306.00 374676.00 494389.00 107.00 PHP Million [+]
Military Expenditure 3753.00 3755.00 4223.00 513.00 USD Million [+]
Credit Rating 61.00 [+]


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.