Philippines General Government Total Expenditure, LCU 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). Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account. 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.