The government budget deficit in the Philippines widened sharply to PHP 116 billion in February 2021 from PHP 37.6 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures jumped 49.5 percent to PHP 335.5 billion from PHP 224.4 billion a year ago while revenues rose 6.2 percent to PHP 219.6 billion from PHP 206.8 billion. Considering the first two months of the year, the country reported a budget deficit of PHP 130 billion deficit, far bigger than a PHP 14.6 billion gap in the corresponding period of 2020. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -8476.36 PHP Million from 1959 until 2021, reaching an all time high of 86872 PHP Million in April of 2019 and a record low of -302590 PHP Million in December 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 April of 2021.

Government Budget Value in Philippines is expected to be -172000.00 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 -54000.00 in 12 months time. In the long-term, the Philippines Government Budget Value is projected to trend around -69000.00 PHP Million in 2022, according to our econometric models.

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Philippines Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-115970.00 -14060.00 86872.00 -302590.00 1959 - 2021 PHP Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-23 04:00 AM Nov PHP-128.3B PHP-61.4B PHP-110B
2021-02-26 07:45 AM Dec PHP-302.6B PHP-128.3B PHP-90B
2021-03-17 02:30 AM Jan PHP-14.1B PHP-302.6B PHP-90B
2021-03-30 07:00 AM Feb PHP-116B PHP-14.1B PHP-100B
2021-05-11 04:00 AM Mar PHP-116B PHP -172B
2021-05-27 05:30 AM Apr
2021-06-23 02:40 AM May
2021-07-22 03:15 AM Jun PHP -154.5B


News Stream
Philippines Budget Deficit Widens in February
The government budget deficit in the Philippines widened sharply to PHP 116 billion in February 2021 from PHP 37.6 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures jumped 49.5 percent to PHP 335.5 billion from PHP 224.4 billion a year ago while revenues rose 6.2 percent to PHP 219.6 billion from PHP 206.8 billion. Considering the first two months of the year, the country reported a budget deficit of PHP 130 billion deficit, far bigger than a PHP 14.6 billion gap in the corresponding period of 2020.
2021-03-30
Philippines Government Budget Swings to Deficit
The government budget in the Philippines posted a PHP 14.1 billion deficit in January 2021, shifting from a PHP 23.05 billion surplus in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures rose 1.2 percent to PHP 274.8 billion from PHP 271.6 billion a year ago while revenues fell 11.5 percent to PHP 260.7 billion from PHP 294.6 billion.
2021-03-17
Philippines Budget Deficit Widens in December
The government budget deficit in the Philippines widened to PHP 302.6 billion in December 2020 from PHP 251.1 billion in the same month the previous year, amid the prolonged coronavirus pandemic. Expenditures rose 9.4 percent to PHP 541.1 billion from PHP 494.4 billion a year ago while revenues fell 2 percent to PHP 238.4 billion from PHP 243.3 billion. For 2020 full year, the country reported a budget deficit of PHP 1.37 trillion, far bigger than a PHP 660.2 billion gap in the corresponding period of 2019.
2021-02-26
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 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.