Philippines recorded a Government Budget deficit equal to 6.20 percent of the country's Gross Domestic Product in 2023. Government Budget in Philippines averaged -2.74 percent of GDP from 1988 until 2023, reaching an all time high of 1.00 percent of GDP in 1994 and a record low of -8.60 percent of GDP in 2021. source: Department of Finance of the Philippine Republic

Government Budget in Philippines is expected to reach -5.10 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Government Budget is projected to trend around -3.80 percent of GDP in 2025, according to our econometric models.




Related Last Previous Unit Reference
Credit Rating 61.00 Jan 2025
Fiscal Expenditure 551285.00 466784.00 PHP Million Nov 2024
Government Budget -6.20 -7.30 percent of GDP Dec 2023
Budget Balance -212973.00 6340.00 PHP Million Nov 2024
Government Debt to GDP 60.10 60.90 percent of GDP Dec 2023
Government Revenues 338312.00 473124.00 PHP Million Nov 2024
Government Spending 783843.06 940217.83 PHP Million Sep 2024
Holidays
Military Expenditure 5451.70 5321.90 USD Million Dec 2023

Philippines Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-6.20 -7.30 1.00 -8.60 1988 - 2023 percent of GDP Yearly