FX.co ★ Philippines Budget Surplus Widens in October

In October 2025, the Philippines recorded an expanded government budget surplus, reaching PHP 11.2 billion, compared to PHP 6.3 billion in October of the previous year. A 6.64% reduction in government revenues to PHP 441.7 billion was primarily due to a notable drop in non-tax collections. Concurrently, government expenditures fell by 7.76% to PHP 430.6 billion, primarily as a result of constrained infrastructure spending linked to the ongoing investigation into the Department of Public Works and Highways (DPWH) flood control issues and the evaluation of project implementations. Over the period from January to October 2025, the nation's budget deficit rose to PHP 1,106.1 billion, up from PHP 963.9 billion in the corresponding period the prior year.