The Philippines's budget surplus widened sharply to PHP 44.5 billion in January 2019 from PHP 10.2 billion in the same month the previous year. It was the first government budget surplus since April 2018, as revenues went up 7.5 percent year-on-year to PHP 256.7 billion from PHP 238.9 billion, while spending fell 7.2 percent to PHP 212.2 billion from PHP 228.7 billion a year ago. In 2018, the government reported a budget gap of PHP 523.6 billion, or 3 percent of GDP, compared to a deficit of PHP 350.6 billion recorded a year earlier. Government Budget Value in Philippines averaged -5556.67 PHP Million from 1959 until 2019, reaching an all time high of 80852 PHP Million in April of 2014 and a record low of -118229 PHP Million in December of 2016.
Government Budget Value in Philippines is expected to be -46000.00 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 -86000.00 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.