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.