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.