Philippines Government Budget

Philippines recorded a Government Budget deficit equal to 1.40 percent of the country's Gross Domestic Product in 2013. Government Budget in Philippines is reported by the Department of Finance of the Philippine Republic. Government Budget in Philippines averaged -2.17 Percent of GDP from 1988 until 2013, reaching an all time high of 1 Percent of GDP in 1994 and a record low of -5.30 Percent of GDP in 2002. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Philippines Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-1.40 -2.30 1.00 -5.30 -1.96 | 2013/12 1988 - 2013 Percent of GDP Yearly

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Philippines Government Budget
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-03-04 05:00 AM Philippines
Government Budget
2012 -2.5% -2.00%
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Government Last Previous Highest Lowest Forecast Unit
Government Budget Value -9700.00 2014-02-15 -34218.00 54093.00 -115745.00 -17938.67 2014-02-28 PHP Million [+]
Government Spending 132622.68 2013-11-15 166334.12 226647.42 109965.40 152344.15 2014-03-31 PHP Million [+]
Government Budget -1.40 2013-12-31 -2.30 1.00 -5.30 -1.96 2013-12-31 Percent of GDP [+]
Government Debt To GDP 40.10 2012-12-31 40.40 74.90 40.10 39.27 2013-12-31 Percent [+]
Credit Rating 45.63 [+]
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Government Budget | Notes
A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.


RELATED NEWS

Philippines Inflation Rate Edges Down in March  
Philippines annual consumer prices decelerated for the second straight month to 3.9 percent, the lowest rate in four months, due to a slowdown in prices of alcoholic beverages, tobacco, housing, water, electricity, gas, recreation and restaurants.
Philippines Leaves Rates on Hold, Raises Bank Reserve Requirements  
At its March 27th, 2014 meeting, Philippines' Central Bank decided to leave the key policy rate steady at 3.50 percent, but raised banks' reserve requirements by 1 percentage point effective on April 4th, 2014 to curb excess liquidity.
Philippines’ Trade Deficit Doubles in January  
The trade deficit widened in January of 2014 to USD -1.38 billion from USD -0.72 billion a year earlier and USD -0.70 billion in December of 2013. While exports climbed for the eighth consecutive month, imports posted the highest increase in nearly 3 years.
Philippines Unemployment Rate Up to 7.5%  
In January of 2014, Philippines jobless rate rose to 7.5 percent, up from 6.5 percent in the previous period and 7.1 percent a year ago. Typhoon-hit region VIII was not covered in the survey.
Philippines Inflation Rate Slows in February  
Philippines annual inflation fell to 4.1 percent in February from 4.2 percent in January, as alcoholic beverages, tobacco and transport prices rose at a slower pace. On a monthly basis, the inflation rate eased from 0.7 percent in January to 0.1 percent in February, as the country starts to recover from supply shocks caused by November’s Typhoon Haiyan.
Philippines Trade Deficit Narrows in 2013  
In 2013, Philippines trade deficit decreased 23 percent to USD 7.73 billion, from USD 10.03 billion in the previous year, due to a 3.6 percent rise in sales. Considering the last month of 2013, the trade deficit narrowed to USD 695 million.
Philippines Monetary Policy Unchanged in February  
At its February 2nd meeting, Philippines' Central Bank decided to keep its key policy rate unchanged at 3.50 percent as recent inflationary pressures are mainly due to adverse weather conditions.
Philippines Inflation Rate Accelerates in January  
In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month.
Philippines GDP Expands 1.5% QoQ in Q4 2013  
In the fourth quarter of 2013, Philippines GDP advanced 1.5 percent over the previous quarter, slightly up from a revised 1.3 percent in the previous three-month period and boosted by the industrial production.
Philippines Q4 2013 GDP Growth Hurt by Typhoon Haiyan  
In the fourth quarter of 2013, Philippines GDP slowed to an annual growth rate of 6.5 percent, down from a revised 6.9 percent in the previous three months and 7.1 percent a year earlier. Although Typhoon Haiyan hit the economy, robust household consumption made the GDP figures better than initial government estimates. Full 2013 GDP expanded 7.2 percent.
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Russia Unemployment Drops in March  
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Canada Inflation Rises Above Forecasts in March  
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US Jobless Claims Rise Slightly  
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Brazil Unemployment Rate Down to 5%  
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Dutch Unemployment Rate Falls for the First Time in 2014  
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Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
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Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.
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