Philippines Budget Deficit Widens in August


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In August 2025, the Philippine government’s budget deficit expanded to PHP 84.8 billion, compared to PHP 54.2 billion in the same month of the previous year. There was an 11.4% increase in government revenues, amounting to PHP 352.5 billion, driven by a 3.4% rise in tax revenues, which helped counterbalance a significant 67.8% decline in non-tax revenue collections. Conversely, government spending decreased slightly by 0.7% year-on-year, totaling PHP 437.3 billion. From January through August, the total deficit reached PHP 869.2 billion, remaining comfortably within the adjusted full-year target of PHP 1.56 trillion, compared to a deficit of PHP 697 billion recorded for the same period last year.




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