The government budget surplus in the Philippines widened sharply to PHP 66.8 billion in April 2023 from PHP 4.9 billion in the same month of the previous year. It was the largest budget surplus since April 2019, as the government revenues accelerated by 26.7% to PHP 440.7 billion, boosted by the 31.4% growth in tax revenues. Meanwhile, expenditures increased at a softer 9% to PHP 373.9 billion. Considering the January-April period, the country posted a budget deficit of PHP 204.1 billion, narrowing from a PHP 311.9 billion gap in the corresponding period in 2022. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -12540.92 PHP Million from 1959 until 2023, reaching an all time high of 86872.00 PHP Million in April of 2019 and a record low of -378366.00 PHP Million in December of 2022. 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 June of 2023.

Government Budget Value in Philippines is expected to be -200000.00 PHP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget Value is projected to trend around -307000.00 PHP Million in 2024 and -260000.00 PHP Million in 2025, according to our econometric models.

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Philippines Government Budget Value



Calendar GMT Actual Previous Consensus TEForecast
2023-05-02 06:10 AM Mar PHP-210.3B PHP-106.4B PHP -187B
2023-05-29 03:00 AM Apr PHP66.8B PHP-210.3B
2023-06-27 03:00 AM May PHP66.8B


Related Last Previous Unit Reference
Government Debt to GDP 60.90 60.40 percent of GDP Dec 2022
Government Budget Value 66798.00 -210261.00 PHP Million Apr 2023
Government Revenues 440697.00 258650.00 PHP Million Apr 2023
Fiscal Expenditure 373899.00 468911.00 PHP Million Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
66798.00 -210261.00 86872.00 -378366.00 1959 - 2023 PHP Million Monthly
Current Prices, NSA

News Stream
Philippines Budget Surplus Largest in 4 Years
The government budget surplus in the Philippines widened sharply to PHP 66.8 billion in April 2023 from PHP 4.9 billion in the same month of the previous year. It was the largest budget surplus since April 2019, as the government revenues accelerated by 26.7% to PHP 440.7 billion, boosted by the 31.4% growth in tax revenues. Meanwhile, expenditures increased at a softer 9% to PHP 373.9 billion. Considering the January-April period, the country posted a budget deficit of PHP 204.1 billion, narrowing from a PHP 311.9 billion gap in the corresponding period in 2022.
2023-05-29
Philippine Budget Deficit Widens in March
The government budget in the Philippines widened to PHP 210.3 billion in March 2023, from PHP 187.67 billion in the same month a year earlier. Government expenditures dropped by 2.6% to PHP 468.9 billion a year ago, while revenues decreased by 11.99% to PHP 258.65 billion. Considering January to March 2023, the government budget posted a deficit of PHP 270.88 billion.
2023-05-02
Philippine Budget Deficit Widens in February
The government budget deficit in the Philippines widened to PHP 106.4 billion in February 2023, from PHP 105.8 billion in the same month of the previous year. Government expenditures rose by 0.01% to PHP 318.24 billion a year ago, mainly driven by the decline of National Tax Allotment of the Local Government Units. On the other hand, revenues decreased by 0.25% to PHP 211.87 billion, from due to a 3.01% decline in tax revenues. Considering January – February 2023, the country’s budget gap was at PHP 60.6 billion, narrowing from PHP 129.2 billion in the corresponding period of 2022.
2023-04-03