Softer spending eases 2025-26 deficit by 36%

According to the latest estimates, revenues in 2025–2026 amounted to P70 billion against spending of P86.3 billion. By comparison, the last projections from the Finance ministry, as made in the February budget speech, pointed to revenues of P71.2 billion and expenditure of P96.7 billion.

The BoB’s preliminary numbers suggest that revenues came in P1.2 billion lower than forecast, whilst spending was P10.4 billion lower than approved and allocated. The central bank’s figures indicate that tax revenues, including mineral royalties and dividends, in the 2025–2026 financial year reached P68.2 billion, above the forecast of P61.1 billion made in February.