Philippines—Fiscal Balance (% of GDP)
Category: Fiscal & MonetarySource: IMF World Economic Outlook ↗Global Rank: #117 of 192Updated August 2026
Latest Value
-1.5%
2031
YoY Change
+6.3%
2030 → 2031
Global Rank
#117
of 192 countries
Maximum
1.3%
2014
Minimum
-6.2%
2021
Last
-1.5%
Previous
-1.6%
Highest
1.3%
Lowest
-6.2%
Unit
Percent of GDP
Source
IMF World Economic Outlook
Philippines's fiscal balance (% of GDP) was -3.7% in 2026, ranking #117 out of 192 countries. This represents a +6.3% change from 2030. Over the past 27 years, the highest recorded value was 1.3% (2014) and the lowest was -6.2% (2021). The IMF WEO projects -1.5% by 2031. Data sourced from the IMF World Economic Outlook.
Actual
IMF Forecast
Source: IMF World Economic Outlook
Historical Data
| Year | Value | Change |
|---|---|---|
| 2031 | -1.5% | +6.3% |
| 2030 | -1.6% | +23.8% |
| 2029 | -2.1% | +16.0% |
| 2028 | -2.5% | +10.7% |
| 2027 | -2.8% | +24.3% |
| 2026 | -3.7% | +7.5% |
| 2025 | -4.0% | +9.1% |
| 2024 | -4.4% | +0.0% |
| 2023 | -4.4% | +20.0% |
| 2022 | -5.5% | +11.3% |
| 2021 | -6.2% | -12.7% |
| 2020 | -5.5% | -266.7% |
| 2019 | -1.5% | +0.0% |
| 2018 | -1.5% | -87.5% |
| 2017 | -0.8% | -14.3% |
| 2016 | -0.7% | -800.0% |
| 2015 | 0.1% | -92.3% |
| 2014 | 1.3% | +225.0% |
| 2013 | 0.4% | +300.0% |
| 2012 | -0.2% | +50.0% |
| 2011 | -0.4% | +82.6% |
| 2010 | -2.3% | +11.5% |
| 2009 | -2.6% | |
| 2008 | 0.0% | +100.0% |
| 2007 | -0.3% | |
| 2006 | 0.0% | +100.0% |
| 2005 | -1.6% | +42.9% |
| 2004 | -2.8% | +20.0% |
| 2003 | -3.5% | +5.4% |
| 2002 | -3.7% | -5.7% |
| 2001 | -3.5% | -6.1% |
| 2000 | -3.3% |
IMF Forecast
Projections from the IMF World Economic Outlook. These are staff estimates, not guarantees.
| Year | Projected Value | Change from Previous |
|---|---|---|
| 2026Forecast | -3.7% | +7.5% |
| 2027Forecast | -2.8% | +24.3% |
| 2028Forecast | -2.5% | +10.7% |
| 2029Forecast | -2.1% | +16.0% |
| 2030Forecast | -1.6% | +23.8% |
| 2031Forecast | -1.5% | +6.3% |
Top Countries — Fiscal Balance (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Kuwait | 27.6% | 2026 |
| 2 | Naoero | 13.1% | 2026 |
| 3 | Norway | 10.2% | 2026 |
| 4 | Oman | 5.2% | 2026 |
| 5 | United Arab Emirates | 4.9% | 2026 |
| 6 | Lesotho | 4.2% | 2026 |
| 7 | Macao SAR, China | 4.2% | 2026 |
| 8 | Singapore | 3.3% | 2026 |
| 9 | Lebanon | 3.3% | 2025 |
| 10 | Liechtenstein | 3.0% | 2026 |
About This Indicator
Definition
General government net lending/borrowing as a percentage of GDP. A positive value indicates a fiscal surplus; negative indicates a deficit.
Methodology
Revenue minus expenditure minus net acquisition of nonfinancial assets, as a percentage of GDP. A comprehensive measure of the fiscal balance.
Unit
Percent of GDP