National Government (NG) cash expenditures in 2019 reached P3.80 trillion (20.4% of GDP) or P389.3 billion (11.4%) higher than in 2018. The amount was financed using the (a) P3.14 trillion (16.9% of GDP) revenues generated and (b) P660.2 billion (3.5% of GDP) borrowings used to cover the deficit. Total revenues in 2019 was P287.3 billion (10.1%) more while deficit financing was P102.0 billion (18.3%) higher than in 2018.
