Logout / Access Other products Drop Down Arrow
Get live help Monday-Friday from 7:00AM-7:00PM ET (11:00AM-11:00PM GMT)  •  Contact Us
Check out our new FAQ section!
RSS Feed
New Estimates: Philippines - Central government finances
Tuesday, 26 Feb 2019 08:10 ET
By Daniel Luckenbach
Summary
February 2019 -- Moody's Analytics now estimates central government finances (balance, revenue, expenditures) for the Philippines (three new quarterly series, from 1989).
Detail

Motivation: Our national source, the Philippines Bureau of the Treasury (BTR), reports these indicators at a monthly frequency, but with limited history (from 2003) and with gaps (at January 2004 and all of 2005).

Response: For international consistency, Moody's Analytics has estimated the indicators at a quarterly frequency. We have extended the history and filled the gaps.

Properties: Figures are millions of Philippine pesos (Mil. PHP) at a seasonally adjusted annualized rate (SAAR). The series are quarterly from 1989Q1. The series reside in the historical catalog (Philippines » Government » Central government finance) and are:

  • RGVLCBGBAQ.IPHL = Government finance: Central government - Budget balance, (Mil. PHP, SAAR)
  • RGVLCREVAQ.IPHL = Revenue
  • RGVLCEXTAQ.IPHL = Expenditure

Method

  1. Frequency-convert from monthly SA to quarterly SAAR: revenue and expenditure (GVLREVTTAM.IPHL and GVLEXTAM.IPHL).
  2. Frequency-convert annual to quarterly (technique:cubic): IMF revenue and expenditure (IMFWGGRUA.IPHL and IMFWGGXUA.IPHL).
  3. Infill gaps in (1) using (2).
  4. Backfill to 1989Q1 (1) using (2).
  5. Compute budget balance as an additive identity:
    RGVLCBGBAQ.IPHL = RGVLCREVAQ.IPHL - RGVLCEXTAQ.IPHL

Definitions: Annualizing is a simple analytic adjustment that assumes activity in a given period will continue unchanged for a full year. For example, if government revenue for Q1 is $100, revenue AR for Q1 is $400. Exactly the same applies to seasonally adjusted values, i.e., multiply by four.

See also

Other
Related ReleaseGovernment Budget
SourceBureau of the Treasury (BTR)
FrequencyMonthly
GeographyPhilippines
Catalog
Upcoming
Release DateReference date
28 May 2019Apr 2019
26 Jun 2019May 2019
Related ReleaseGovernment finance
SourceMoody's Analytics (ECCA)
FrequencyQuarterly
GeographyPhilippines
Upcoming
Release DateReference date
29 May 20192Q 2019
27 Jun 20192Q 2019