The Philippines posted a government budget deficit of PHP 202.1 billion in May 2020, swinging from a PHP 2.6 billion surplus in the same month the previous year, amid the coronavirus pandemic. Expenditures rose 12.4 percent to PHP 353.6 billion from PHP 314.7 billion a year ago to PHP while revenues plunged 52.2 percent to 151.5 billion from PHP 317.2 billion. For the first five months of the year, the country reported a budget deficit of PHP 562.2 billion, far larger than PHP 1.2 billion gap in the corresponding period of 2019.

Government Budget Value in Philippines averaged -7288.80 PHP Million from 1959 until 2020, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -273900 PHP Million in April 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 July of 2020. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines is expected to be -131500.00 PHP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Philippines to stand at -114500.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -90000.00 PHP Million in 2021 and -89000.00 PHP Million in 2022, according to our econometric models.

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Philippines Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-202136.00 -273881.00 86872.00 -273881.00 1959 - 2020 PHP Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-06 03:00 AM Budget Balance Feb PHP-37.6B PHP23B PHP-122.7B
2020-05-11 04:00 AM Budget Balance Mar PHP-59.5B PHP-37.6B PHP -94B
2020-05-27 05:30 AM Budget Balance Apr PHP-273.9B PHP-59.5B PHP-68.8B
2020-06-23 02:40 AM Budget Balance May PHP-202.1B PHP-273.9B PHP-68.8B
2020-07-22 04:00 AM Budget Balance Jun PHP-202.1B PHP -158B
2020-08-25 04:00 AM Budget Balance Jul
2020-09-22 04:00 AM Budget Balance Aug
2020-10-22 04:00 AM Budget Balance Sep PHP -131.5B


News Stream
Philippines Budget Swings to Deficit in May
The Philippines posted a government budget deficit of PHP 202.1 billion in May 2020, swinging from a PHP 2.6 billion surplus in the same month the previous year, amid the coronavirus pandemic. Expenditures rose 12.4 percent to PHP 353.6 billion from PHP 314.7 billion a year ago to PHP while revenues plunged 52.2 percent to 151.5 billion from PHP 317.2 billion. For the first five months of the year, the country reported a budget deficit of PHP 562.2 billion, far larger than PHP 1.2 billion gap in the corresponding period of 2019.
2020-06-23
Philippines Government Budget Swings to Deficit
The Philippines posted a government budget deficit of PHP 273.9 billion in April 2020, swinging from a PHP 86.9 billion surplus in the same month the previous year, amid the coronavirus pandemic. Expenditures jumped 108.1 percent, while revenues dropped 31.4 percent. For the first four months of the year, the country reported a budget deficit of PHP 347.9 billion, larger than PHP 3.4 billion in the corresponding period of 2019. The Cabinet-level Development Budget Coordination Committee (DBCC) in April expected 2020 expenditures on public goods and services to increase to PHP 4.163 trillion from PHP 3.798 trillion in 2019, leading to wider budget deficit of PHP 990.1 billion, equivalent to 5.3 percent of GDP.
2020-05-27
Philippines Budget Deficit Narrows in February
The Philippines' government budget deficit decreased to PHP 37.6 billion in February 2020 from PHP 76.4 billion in the same month the previous year, as revenues rose 2.4 percent to PHP 206.8 billion and expenditures fell 12.2 to PHP 244.4 billion. Considering the first two months of the year, the budget deficit narrowed to PHP 14.6 billion from PHP 31.8 billion in the corresponding period of 2019.
2020-04-06
Philippines Budget Surplus Narrows in January
Philippines' government budget surplus declined to PHP 23 billion in January of 2020 from PHP 44.5 billion in the same month the previous year. Expenditures jumped 28 percent to PHP 271.6 billion from PHP 212.2 billion a year earlier while revenues increased at a softer 14.8 percent to PHP 294.6 billion from PHP 256.7 billion.
2020-03-13

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.