Government net lending/borrowing in Philippines

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -4.2% 2027: -4.0% 2028: -3.6% 2029: -3.2% 2030: -2.5% 2031: -2.1%

-2.3 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	-2.3
Jan 1998	-1.3
Jan 1997	0.4
Jan 1996	0.5
Jan 1995	0.0
Jan 1994	-0.4
Jan 1993	0.6
Jan 1992	-0.4
Jan 1991	-0.3
Jan 1990	-1.5

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Measures the balance of the Philippines' public accounts: a deficit occurs when government spending exceeds revenue over the year, and a surplus when the reverse holds. It is published by the Bureau of the Treasury and is expressed as a share of GDP.

How it's calculated

Derived as the difference between national government revenue and expenditure over the period, on a cash basis, and set against nominal GDP. The Treasury publishes a monthly balance as well as the annual figure.

Market implications

The deficit sets financing needs and the post-pandemic consolidation path, closely followed by markets. A wide deficit pressures the Philippine peso, borrowing costs and credit ratings; the Bangko Sentral ng Pilipinas keeps it in view.

Limitations

It is a low-frequency, revisable figure. Revenue depends heavily on tax administration and the cycle, and infrastructure spending can bunch in particular months, so the primary balance and the annual trend are worth watching.