Go Unlimited with Magzter GOLD

Go Unlimited with Magzter GOLD

Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just

$149.99
 
$74.99/Year

Try GOLD - Free

DOF: Fiscal deficit 'manageable'

The Freeman

|

August 20, 2025

Finance Secretary Ralph Recto said on Monday, August 18, that the country's fiscal deficit remains at "manageable" levels, with the first half of the year recording P765.5 billion.

DOF: Fiscal deficit 'manageable'

Recto made the statement while presenting the Department of Finance's (DOF) report on the country's current economic situation and the macroeconomic assumptions underpinning the proposed 2026 National Expenditure Program (NEP) to the House of Representatives.

He said that the deficit is still within the midyear target, with the deficit-to-GDP ratio at 5.7%, while the government's full-year target is 5.5%.

Recto compared this to neighboring countries. Malaysia is running a budget deficit of 4.5% of GDP, while Indonesia's deficit stands at 1.8%.

By contrast, Singapore posts a modest surplus of 0.4%, indicating it collects slightly more revenue than it spends, and Vietnam has the highest surplus at 10.4%.

P4.52-T projected revenue for 2025

Against this regional backdrop, Finance Secretary Ralph Recto cited the DOF's Fiscal Policy and Monitoring Group, saying that the Philippine government is expected to generate more revenue each year.

Revenue for 2025 is projected at P4.520 trillion, a 2.29% increase from 2024's P4.419 trillion.

MORE STORIES FROM The Freeman

The Freeman

Center-right senator elected as president

Bolivians on Sunday elected a pro-business center-right senator as their new president, ending two decades of socialist rule that left the South American nation deep in economic crisis.

time to read

2 mins

October 21, 2025

The Freeman

Diesel prices to drop P0.70 per liter

After nearly two months of consecutive hikes, diesel prices will drop by P0.70 per liter starting Tuesday, October 21. Kerosene prices are also set to decrease, while gasoline prices are expected to see a slight increase.

time to read

1 mins

October 21, 2025

The Freeman

No reason for let-up

Netizens couldn't help but react to a recent post by a “school” that the media might be on the take to take attention away from the corruption involving flood-control projects.

time to read

1 mins

October 21, 2025

The Freeman

NDRRMC calls for infra audit following quakes

Following a series of earthquakes across the country including in Cebu recently, National Disaster Risk Reduction and Management Council (NDRRMC) chairman and Defense Secretary Gilberto Teodoro Jr. has ordered a nationwide push for infrastructure audits, retrofitting of critical facilities, and intensified earthquake preparedness in coordination with Local Government Units (LGUs).

time to read

1 mins

October 21, 2025

The Freeman

Storm leaves 7 dead, 2 missing

Seven people were reported dead following the onslaught of Tropical Storm Ramil (international name: Fengshan).

time to read

1 min

October 21, 2025

The Freeman

Go vows to streamline real estate agents’ registration

Senator Christopher “Bong” Go has pledged stronger support for the professionalization of the Philippine real estate industry, vowing to push Senate Bill 1292 or the “Real Estate Salesperson Registration Speed Act of 2025”— a measure aimed at simplifying the accreditation process for sales agents across the country.

time to read

2 mins

October 21, 2025

The Freeman

A political earthquake called Kiko Barzaga

Much like an intensity 10 earthquake, this impertinent and irreverent young guy is rocking the boat. He is openly challenging the gods. He is like the child Jesus debating with the Pharisees, scribes, and teachers of the law right there in the Temple. He is driving away the corrupt moneychangers transforming his father’s house into a den of thieves.

time to read

3 mins

October 21, 2025

The Freeman

China’s Communist Party begins major eco meetings

China’s ruling Communist Party kicked off four days of closed-door meetings on Monday involving high-ranking officials in discussions on long-term economic planning, state media reported.

time to read

1 min

October 21, 2025

The Freeman

DSWD opens donation center for Cebu earthquake victims

In response to the magnitude 6.9 earthquake that struck Cebu Province, the Department of Social Welfare and Development-7 has established a donation hub to receive relief goods and other forms of support for affected communities in northern Cebu.

time to read

2 mins

October 21, 2025

The Freeman

Pinamungajan mayor slams gov's claims vs toilet project

She questioned why is it that, as of October, the project remains unfinished, noting that the mayor himself admitted in an earlier interview that the comfort room was only “75 percent completed.”

time to read

1 mins

October 21, 2025

Listen

Translate

Share

-
+

Change font size