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.