23.10.202508:40:13UTC+00Philippines Budget Deficit Narrows in September

In September 2025, the Philippines observed a reduction in its budget deficit, which decreased to PHP 248.1 billion from the previous year's figure of PHP 273.3 billion for the same month. Government revenues experienced a notable increase of 10.88% from the previous year, reaching PHP 281.7 billion. This growth outpaced a 5.18% rise in government spending, which climbed to PHP 529.8 billion. The improvement in revenues can be attributed to robust tax collections by the Bureau of Internal Revenue and the Bureau of Customs, which saw increases of 4.7% and 5.3%, respectively. However, non-tax revenues experienced a significant decline of 65.8%, falling to PHP 15.8 billion. At the same time, government expenditures decreased by 7.5%, amounting to PHP 529.8 billion. For the year up to September, the cumulative deficit reached PHP 1.12 trillion, remaining comfortably within the revised full-year goal of PHP 1.56 trillion, an increase from PHP 970.2 billion recorded in the preceding year.