Fiscal Targets PARTICULARS Levels in Billion Pesos Revenues Disbursements Surplus/(Deficit) Obligation Budget
2013 Adjusted Program
2014 Program
2015 Proposed
2016 Proposed
1,745.9 1,983.9 (238.0) 2,005.9
2,018.1 2.284.3 (266.2) 2,264.6
2,337.3 2,622.6 (285.3) 2,605.9
2,760.8 3,082.8 (322.0) 3,077.9
Per cent of GDP Revenues Disbursements Surplus/(Deficit) Obligation Budget
14.7 16.7 (2.0) 16.8
15.5 17.5 (2.0) 17.4
16.2 18.2 (2.0) 18.0
17.1 19.1 (2.0) 19.0
Growth Rate Revenues Disbursements Surplus/(Deficit)* Obligation Budget
13.7 11.6 2.0 9.7
15.6 15.1 (11.9) 12.9
15.8 14.8 (7.1) 15.1
18.1 17.5 (12.9) 18.1
11,914.5
12,990.3
14,463.5
16,179.0
8.0 92.0
15.0 85.0
11.0 89.0
9.0 91.0
GDP Gross Financing Mix (%) Foreign Domestic
Notes: *A positive growth rate indicates an improvement in the fiscal balance Source: DBM NBM 119 based on DBM, DOF, and NEDA data