The Philippines' budget balance in relation to GDP 2029

The budget balance in relation to the GDP in the Philippines was forecast to continuously increase between 2024 and 2029 by in total 2.2 percentage points. According to this forecast, in 2029, the budget balance will have increased for the fourth consecutive year to -1.68 percent.
The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Find more key insights for the budget balance in relation to the GDP in countries like Laos, Singapore, and Indonesia.