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A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
The Department of Budget and Management (DBM; Filipino: Kagawaran ng Badyet at Pamamahala) [1] is an executive body under the Office of the President of the Philippines.It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there were improvements in the last few years of the first decade of the 21st century. [2] The Philippine government's main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and ...
[48] [49] The Department of Budget and Management has allotted 187,189,000 pesos from the 2023 National Budget for the network based on the General Appropriations Act of 2023 to continue its broadcast operations and to pay employees' salaries.
[18] [19] A budget of ₱8.9 billion was allocated for the construction project. [20] [21] Construction would be disrupted by the COVID-19 pandemic. [22] The building was topped-out on July 20, 2023. [23] The Senate projected to hold its first meeting in the building in July 2024. [24]
The National Youth Commission (Filipino: Pambansang Komisyon sa Kabataan), also known as the NYC, is a government agency in the Philippines that specifically addresses issues surrounding the Filipino youth. It was founded on June 30, 1995, via Republic Act 8044 or the "Youth in Nation-Building Act of 1995". [3]
The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines. As of the end of October 2024, the total national debt of the Philippines amounts to ₱15.1889 trillion ($273.9 billion). [1]