The government budget deficit in the Philippines widened to PHP 128.3 billion in November 2020 from PHP 60.9 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures rose 2.3 percent to PHP 374.1 billion from PHP 365.6 billion a year ago while revenues slumped 19.2 percent to PHP 245.8 billion from PHP 304.7 billion. For the first eleven months of the year, the country reported a budget deficit of PHP 1.09 trillion, far bigger than a PHP 599.4 billion gap in the corresponding period of 2019. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -7766.04 PHP Million from 1959 until 2020, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -273881 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 January of 2021.

Government Budget Value in Philippines is expected to be -54000.00 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 -54000.00 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
-128278.00 -61362.00 86872.00 -273881.00 1959 - 2020 PHP Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-23 02:00 AM Budget Balance Aug PHP-40.1B PHP-140.2B PHP-111B
2020-10-23 03:00 AM Budget Balance Sep PHP-138.5B PHP-40.1B PHP -131.5B
2020-11-25 02:30 AM Budget Balance Oct PHP-61.4B PHP-138.5B PHP-120B
2020-12-23 04:00 AM Budget Balance Nov PHP-128.3B PHP-61.4B PHP-110B
2021-02-26 04:00 AM Budget Balance Dec PHP-128.3B PHP-90B
2021-03-13 03:00 AM Budget Balance Jan
2021-04-06 03:00 AM Budget Balance Feb
2021-05-11 04:00 AM Budget Balance Mar


News Stream
Philippines Budget Gap Widens in November
The government budget deficit in the Philippines widened to PHP 128.3 billion in November 2020 from PHP 60.9 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures rose 2.3 percent to PHP 374.1 billion from PHP 365.6 billion a year ago while revenues slumped 19.2 percent to PHP 245.8 billion from PHP 304.7 billion. For the first eleven months of the year, the country reported a budget deficit of PHP 1.09 trillion, far bigger than a PHP 599.4 billion gap in the corresponding period of 2019.
2020-12-23
Philippines Government Budget Deficit Widens in October
The government budget deficit in the Philippines widened to PHP 61.4 billion in October 2020 from PHP 49.3 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures fell 6.8 percent to PHP 289.6 billion from PHP 261.5 billion a year ago while revenues dropped at a faster 12.7 percent to PHP 228.2 billion from PHP 261.5 billion. For the first ten months of the year, the country reported a budget deficit of PHP 960.6 billion, far bigger than a PHP 348.3 billion gap in the corresponding period of 2019.
2020-11-25
Philippines Budget Deficit Widens Sharply in August
The Philippines' government budget deficit widened sharply to PHP 40.1 billion in August 2020 from PHP 2.5 billion in the same month the previous year, amid the coronavirus pandemic. Expenditures rose 0.4 percent to PHP 283.3 billion from PHP 282.2 billion a year ago while revenues fell 13 percent to 243.2 billion from PHP 279.7 billion. For the first seven months of the year, the country reported a budget deficit of PHP 740.7 billion, far larger than PHP 72.6 billion gap in the corresponding period of 2019.
2020-09-23
Philippines July Budget Deficit Widens Sharply
The Philippines' government budget deficit widened sharply to PHP 140.2 billion in July 2020 from PHP 75.3 billion in the same month the previous year, amid the coronavirus pandemic. Expenditures rose 10.4 percent to PHP 374.7 billion from PHP 339.4 billion a year ago while revenues fell 11.2 percent to 234.5 billion from PHP 264.1 billion. For the first seven months of the year, the country reported a budget deficit of PHP 700.6 billion, far larger than PHP 70.1 billion gap in the corresponding period of 2019.
2020-08-26

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.