Philippines General Government Revenue, USD Billions. Units: National currency. Multiplier: Billions. Estimates begin after 2015 . This data is sourced from www.opendataforafrica.org where it is offered under an open data licence (www.opendataforafrica.org/legal/termsofuse). Revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government?s net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition of the balance sheet do not change the net worth position, for example, proceeds from sales of nonfinancial and financial assets or incurrence of liabilities. Source: Ministry of Finance or Treasury. Department of Finance Latest actual data: 2015. 2014 data accommodates actual figures for national government revenue and expenditure, but reflects projections for local governments and social security institutions. Fiscal assumptions: Fiscal projections assume that the authorities? fiscal deficit target will be achieved in 2016 and beyond. Revenue projections reflect the IMF staff?s macroeconomic assumptions and incorporate anticipated improvements in tax administration. Expenditure pr Start/end months of reporting year: January/December GFS Manual used: Government Finance Statistics Manual (GFSM) 2001 Basis of recording: Cash. Classification of revenues and expenses is based on GFSM 2001, but the accounting method is on a cash basis. General government includes: Central Government;Local Government;Social Security Funds;. Local governments comprise provinces, cities, and municipalities. Valuation of public debt: Nominal value Primary domestic currency: Philippine peso Data last updated: 08/2016.