Philippines' government budget deficit narrowed to PHP 41.84 billion in June 2019 from PHP 54.29 billion in the same month the previous year. Year-on-year, revenues advanced 4.3 percent to PHP 233.89 billion, while spending fell by 1 percent to PHP 275.72 billion. Considering the first six months 2019, the country reported a government budget deficit of PHP 42.65 billion, far lower than a PHP 196.62 billion gap in the corresponding period the prior year. Government Budget Value in Philippines averaged -5638.54 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 -42000.00 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.