Philippines Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Philippines's budget deficit was -3.57% in 2025, ranked 116th globally. This represents a 5.6% increase from 2024. Data from IMF WEO, covering 1989–2025.
Overview
Philippines's budget deficit stood at -3.57% in 2025, a rise of +0.21% from 2024. The IMF projects -3.57% by 2025. Philippines ranked 116th globally.
The Philippines' budget deficit has exhibited a significant fluctuation over the past three and a half decades, with a coverage period of 37 years. The deficit peaked in 2014 at 1.32%, a level surpassed by countries like Moldova, which had a deficit of -3.58% in 2025, and the Philippines' own all-time trough of -6.23% in 2021, making it the second-lowest globally. By 2025, the deficit had decreased to -3.57%, ranking 116 globally, a position closely trailed by Montenegro, which had a deficit of -3.53%. This trend suggests a reduction in the country's fiscal burden, although it remains a significant concern. A sustained decrease in the deficit would likely require a combination of prudent fiscal management and economic growth, potentially driven by structural reforms and investments in key sectors such as infrastructure and human capital.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -1.79% | - | - |
| 2029* IMF | -1.83% | - | - |
| 2028* IMF | -2.12% | - | - |
| 2027* IMF | -2.65% | - | - |
| 2026* IMF | -3.14% | - | - |
| 2025* IMF | -3.57% | - | - |
| 2025 | -3.57% | +0.21% | #116 |
| 2024 | -3.78% | +0.60% | #69 |
| 2023 | -4.38% | +1.10% | #58 |
| 2022 | -5.48% | +0.75% | #45 |
| 2021 | -6.23% | −0.69% | #51 |
| 2020 | -5.55% | −4.04% | #102 |
| 2019 | -1.50% | −0.02% | #103 |
| 2018 | -1.48% | −0.73% | #101 |
| 2017 | -0.75% | −0.01% | #135 |
| 2016 | -0.75% | −0.89% | #136 |
| 2015 | 0.14% | −1.18% | #165 |
| 2014 | 1.32% | +0.95% | #160 |
| 2013 | 0.37% | +0.59% | #157 |
| 2012 | -0.22% | +0.16% | #139 |
| 2011 | -0.38% | +1.87% | #139 |
Detected Pattern
Analysis
Philippines matched the Export Boom Cycle pattern in 2012. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Philippines's budget deficit was -3.57% in 2025. Ranked 116th globally. This represents a 5.6% increase from the previous year.
Philippines's budget deficit peaked at 1.32% in 2014.
The lowest budget deficit in Philippines was -6.23% in 2021.
Philippines ranks 116th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Philippines's budget deficit is projected to reach -3.57% by 2025 based on IMF projection.
The budget deficit of Philippines in 2025 was -3.57%. This ranks 116th in the world.
Cite this page
@misc{historysaid_philippines_budget-deficit,
title = {Philippines Budget Deficit},
url = {https://historysaid.com/philippines/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}