Philippines' government budget deficit narrowed to PHP 2.49 billion in August 2019 from PHP 2.59 billion in the same month the previous year. Revenues increased 8.9 percent to PHP 279.7 billion from PHP 256.9 billion a year earlier and spending rose at a softer 8.7 percent to PHP 282.2 billion from PHP 259.5 billion. Considering the first eight months of the year, the country reported a government budget deficit of PHP 120.4 billion, lower than a PHP 282.0 billion gap in the corresponding period of 2018. Government Budget Value in Philippines averaged -5729.90 PHP Million from 1959 until 2019, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -118229 PHP Million in December of 2016.
Government Budget Value in Philippines is expected to be 13000.00 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 -65000.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -54000.00 PHP Million in 2020, according to our econometric models.