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. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -9361.35 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 September of 2021.

Government Budget Value in Philippines is expected to be -126500.00 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

Actual Previous Highest Lowest Dates Unit Frequency
-121186.00 -149862.00 86872.00 -302590.00 1959 - 2021 PHP Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-05-25 07:50 AM Apr PHP-44.4B PHP-191.4B PHP-198B
2021-06-22 02:00 AM May PHP-200.3B PHP-44.4B PHP-57B
2021-07-27 02:30 AM Jun PHP-149.9B PHP-200.3B PHP -154.5B
2021-08-24 02:10 AM Jul PHP-121.2B PHP-149.9B PHP-140B
2021-09-22 02:30 AM Aug PHP-121.2B PHP-82B
2021-10-22 04:00 AM Sep PHP -126.5B
2021-11-24 04:00 AM Oct
2021-12-23 04:00 AM Nov


News Stream
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 Government Budget Swings to Deficit
The Philippines registered a government budget deficit of PHP 149.9 billion in June 2021, shifting from a PHP 1.8 billion surplus in the same month a year earlier, amid an ongoing coronavirus pandemic. Expenditures rose 13.2 percent to PHP 395.4 billion from PHP 349.2 billion a year ago while revenues plunged 30.0 percent to PHP 245.6 billion from PHP 351.0 billion. Considering the first six months of the year, the country reported a budget deficit of PHP 716.1 billion, bigger than a PHP 559.9 billion in the corresponding period of 2020.
2021-07-27
Philippines Government Budget Gap Narrows Slightly
The government budget deficit in the Philippines decreased slightly to PHP 200.3 billion in May 2021 from PHP 202.1 billion in the same month a year earlier, amid an ongoing coronavirus pandemic. Expenditures rose 29.2 percent to PHP 456.7 billion from PHP 353.6 billion a year ago while revenues jumped 69.2 percent to PHP 256.4 billion from PHP 151.5 billion. Considering the first five months of the year, the country reported a budget deficit of PHP 566.2 billion, bigger than a PHP 561.7 billion in the corresponding period of 2020.
2021-06-22
Philippines Budget Deficit Smallest in 3 Months
The government budget deficit in the Philippines narrowed sharply to PHP 44.4 billion in April 2021 from PHP 273.9 billion in the same month the previous year. It was the smallest deficit in government budget since January, amid the prolonged coronavirus pandemic. Expenditures plunged 27.2 percent to PHP 336.3 billion from PHP 461.7 billion a year ago while revenues rose 11.6 percent to PHP 291.9 billion from PHP 261.6 billion. Considering the first four months of the year, the country reported a budget deficit of PHP 365.9 billion, bigger than a PHP 359.6 billion in the corresponding period of 2020.
2021-05-25

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.