Philippines: public finances

How much is the Philippines' national budget for 2027?

The proposed national budget for 2027 is ₱7.200 trillion, equal to 21.7% of GDP and 6.0% more than the ₱6.793 trillion approved for 2026, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget.

The proposal is the National Expenditure Program, which the President submits to Congress. It takes effect only once Congress passes the General Appropriations Act and the President signs it, and Congress can change the totals. The DBM publishes the full National Expenditure Program for 2027 by department. Disbursements, the cash actually paid out in the year, are planned at ₱6.900 trillion.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · DBM: National Expenditure Program FY 2027

What is the Philippines' budget deficit?

The national government's deficit was ₱1.577 trillion in 2025, equal to 5.6% of GDP, down from 5.7% in 2024, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. The deficit is programmed at ₱1.659 trillion (5.4% of GDP) in 2026 and ₱1.695 trillion (5.1%) in 2027.

The government plans to bring the deficit down gradually to 3.5% of GDP by 2030. Revenues were ₱4.453 trillion in 2025, with tax collections up 7.3% to ₱4.077 trillion. The figures cover the national government only, not local governments or state corporations.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF)

How much is the Philippines' national debt?

National government outstanding debt is projected to reach about ₱21.480 trillion at the end of 2027, of which ₱14.282 trillion is domestic and ₱7.197 trillion external, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget.

The 2027 financing plan has ₱3.304 trillion of gross borrowing, 72% from domestic sources and 28% external. The Bureau of the Treasury publishes actual national government debt each month; its site could only be viewed with a full browser on 15 October 2026, so the latest monthly figure could not be confirmed here. National government debt excludes debts of local governments and state corporations.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF) · Bureau of the Treasury

How much tax does the Philippine government collect?

National government revenues are projected at ₱5.206 trillion in 2027, equal to 15.7% of GDP and 8.3% more than the ₱4.807 trillion programmed for 2026, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. Tax revenues make up ₱4.851 trillion.

The Bureau of Internal Revenue is expected to collect ₱3.736 trillion, with the rest of tax revenue mainly from the Bureau of Customs. Non-tax revenue is projected at ₱252.9 billion and privatisation proceeds at ₱101.5 billion. In 2025, actual revenues were ₱4.453 trillion.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF)

How much does the Philippines pay in interest on its debt?

The national government paid ₱864.1 billion in interest in 2025, up ₱100.8 billion or 13.2% from ₱763.3 billion in 2024, according to the Department of Budget and Management Technical Notes on the 2027 Proposed National Budget. Interest payments are planned at ₱1.114 trillion in 2027.

The DBM links the 2025 rise to higher interest rates, more Treasury bill and bond issues, and exchange-rate and global interest-rate movements. Interest payments do not include repayments of principal, which are refinanced through new borrowing and shown separately as amortisation in the financing programme.

Official sources: DBM: Technical Notes on the 2027 Proposed National Budget (PDF)

What is the Philippines' debt to GDP ratio?

59.1% of GDP: that is general government gross debt in the Philippines for 2025, according to the IMF. The peak was 64.7% of GDP in 2005 and the low 37.0% of GDP in 2019. Across East Asia & Pacific the middle value was 45.0% of GDP, and the Philippines placed 8th highest of 29. World rank, highest first: 78th of 185.

Does the Philippines' government borrow more than it raises?

The latest figure from the IMF, for 2025, is -4.5% of GDP (a deficit). Since 2005 it has ranged from -6.2% of GDP (2021) to 1.3% of GDP (2014). East Asia & Pacific median: -1.7% of GDP; the Philippines is 24th highest of 29. Worldwide: 138th of 188.

How much does the Philippines' government take in?

20.1% of GDP: that is general government revenue in the Philippines for 2025, according to the IMF. The peak was 21.2% of GDP in 2024 and the low 16.1% of GDP in 2010. East Asia & Pacific median: 33.6% of GDP; the Philippines is 23rd highest of 29. World rank, highest first: 129th of 187.

How big is the Philippines' government spending as a share of GDP?

The IMF puts general government spending in the Philippines at 24.6% of GDP in 2025. Since 2005 it has ranged from 16.8% of GDP (2014) to 27.2% of GDP (2021). It is 21st highest of 29 in East Asia & Pacific, where the median is 32.9% of GDP. Worldwide: 121st of 186.

How much tax does the Philippines collect?

According to the IMF, central government tax revenue in the Philippines was 14.4% of GDP in 2024. The peak was 14.6% of GDP in 2022 and the low 11.6% of GDP in 2010. It is 8th highest of 12 in East Asia & Pacific, where the median is 15.4% of GDP. Of 92 countries with 2024 data, 65th highest.

What is the Philippines' military budget as a share of GDP?

In 2025, military spending in the Philippines was 1.3% of GDP, according to SIPRI. Since 2005 it has ranged from 1.0% of GDP (2014) to 1.4% of GDP (2021). East Asia & Pacific median: 1.4% of GDP; the Philippines is 10th highest of 16. World rank, highest first: 94th of 149.