The government budget deficit in the Philippines decreased slightly to PHP 200.3 billion in May 2021 from PHP 202.1 billion in the same month a year earlier, amid an ongoing coronavirus pandemic. Expenditures rose 29.2 percent to PHP 456.7 billion from PHP 353.6 billion a year ago while revenues jumped 69.2 percent to PHP 256.4 billion from PHP 151.5 billion. Considering the first five months of the year, the country reported a budget deficit of PHP 566.2 billion, bigger than a PHP 561.7 billion in the corresponding period of 2020. source: Bureau of the Treasury, Philippines

Government Budget Value in Philippines averaged -9024.62 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 July 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
-200306.00 -44426.00 86872.00 -302590.00 1959 - 2021 PHP Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-30 07:00 AM Feb PHP-116B PHP-14.1B PHP-100B
2021-04-27 02:15 AM Mar PHP-191.4B PHP-116B PHP -172B
2021-05-25 07:50 AM Apr PHP-44.4B PHP-191.4B PHP-198B
2021-06-22 02:00 AM May PHP-200.3B PHP-44.4B PHP-57B
2021-07-26 02:30 AM Jun PHP-200.3B PHP -154.5B
2021-08-23 04:00 AM Jul
2021-09-22 04:00 AM Aug
2021-10-22 04:00 AM Sep PHP -126.5B


News Stream
Philippines Government Budget Gap Narrows Slightly
The government budget deficit in the Philippines decreased slightly to PHP 200.3 billion in May 2021 from PHP 202.1 billion in the same month a year earlier, amid an ongoing coronavirus pandemic. Expenditures rose 29.2 percent to PHP 456.7 billion from PHP 353.6 billion a year ago while revenues jumped 69.2 percent to PHP 256.4 billion from PHP 151.5 billion. Considering the first five months of the year, the country reported a budget deficit of PHP 566.2 billion, bigger than a PHP 561.7 billion in the corresponding period of 2020.
2021-06-22
Philippines Budget Deficit Smallest in 3 Months
The government budget deficit in the Philippines narrowed sharply to PHP 44.4 billion in April 2021 from PHP 273.9 billion in the same month the previous year. It was the smallest deficit in government budget since January, amid the prolonged coronavirus pandemic. Expenditures plunged 27.2 percent to PHP 336.3 billion from PHP 461.7 billion a year ago while revenues rose 11.6 percent to PHP 291.9 billion from PHP 261.6 billion. Considering the first four months of the year, the country reported a budget deficit of PHP 365.9 billion, bigger than a PHP 359.6 billion in the corresponding period of 2020.
2021-05-25
Philippines Budget Deficit Largest in 3 Months
The government budget deficit in the Philippines widened sharply to PHP 191.4 billion in March 2021 from PHP 71.6 billion in the same month the previous year. It was the largest deficit in government budget since last December, amid the prolonged coronavirus pandemic. Expenditures surged 22.3 percent to PHP 407.6 billion from PHP 333.2 billion a year ago while revenues plunged 17.4 percent to PHP 216.2 billion from PHP 261.6 billion. Considering the first three months of the year, the country reported a budget deficit of PHP 321.5 billion, far bigger than a PHP 86.2 billion in the corresponding period of 2020.
2021-04-27
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 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.