National Accounts

Financial balance sheet of the general government, reference 2018 (billions of pesos)
Sel. Serie I.2013 II.2013 III.2013 IV.2013 I.2014 II.2014 III.2014 IV.2014 I.2015 II.2015 III.2015 IV.2015 I.2016 II.2016 III.2016 IV.2016 I.2017 II.2017 III.2017 IV.2017 I.2018 II.2018 III.2018 IV.2018 I.2019 II.2019 III.2019 IV.2019 I.2020 II.2020 III.2020 IV.2020 I.2021 II.2021 III.2021 IV.2021 I.2022 II.2022 III.2022 IV.2022 I.2023 II.2023 III.2023 IV.2023 I.2024 II.2024 III.2024 IV.2024 I.2025 II.2025 III.2025 IV.2025
I. Outstanding financial assets 33,683 35,721 36,615 36,396 39,272 40,292 42,908 39,628 40,183 42,787 47,511 46,607 48,100 49,299 49,468 46,579 48,227 52,794 49,839 46,636 46,787 50,111 52,610 53,541 54,841 58,122 61,405 59,855 71,903 72,472 68,831 62,626 65,868 67,179 74,366 71,979 70,479 87,899 87,104 78,117 76,506 78,839 83,457 82,055 89,218 90,897 93,042 96,643 100,686 105,359 108,986 105,773
      Currency and deposits, assets 6,980 7,914 7,915 8,008 7,287 7,945 7,926 8,877 7,888 8,314 8,204 9,300 8,915 9,903 9,682 9,676 9,501 11,191 10,321 10,239 9,646 10,467 11,546 10,925 11,019 12,721 11,977 11,746 13,583 12,740 13,130 11,070 10,024 10,872 12,922 10,146 10,255 13,924 13,004 14,688 14,582 16,150 15,232 14,168 15,533 15,860 15,952 15,423 15,684 16,763 17,777 17,351
            Currency and transferable deposits, assets 5,201 5,255 5,243 5,695 4,856 5,364 4,877 5,028 5,028 5,214 5,204 5,871 5,637 6,275 5,971 6,540 6,539 6,383 6,465 6,615 6,719 6,658 7,066 7,175 7,105 7,185 7,596 8,145 7,901 7,891 7,656 7,289 7,352 8,000 9,632 8,941 8,837 9,660 10,899 12,597 12,888 13,666 13,762 12,596 13,830 14,034 13,805 13,908 13,573 14,327 15,138 15,214
            Other deposits, assets 1,780 2,659 2,671 2,313 2,430 2,582 3,049 3,849 2,860 3,100 3,001 3,428 3,279 3,628 3,712 3,136 2,962 4,808 3,856 3,624 2,927 3,810 4,480 3,749 3,914 5,536 4,381 3,600 5,682 4,849 5,474 3,781 2,672 2,871 3,289 1,205 1,418 4,265 2,106 2,091 1,694 2,484 1,470 1,572 1,703 1,826 2,147 1,515 2,111 2,436 2,639 2,137
      Debt securities, assets 12,740 12,321 12,870 12,148 13,663 13,953 14,506 13,731 14,090 15,482 17,691 15,038 16,900 17,461 17,625 14,838 15,482 17,086 16,048 14,185 13,866 13,769 13,718 14,277 13,658 13,479 14,483 13,195 18,528 18,837 13,418 11,646 12,228 9,608 9,739 10,049 13,332 19,317 18,640 13,757 11,809 11,398 11,907 11,599 11,887 11,212 12,193 10,776 10,585 11,780 10,601 9,741
            Short-term debt securities, assets 3,106 2,261 3,292 2,279 3,071 3,061 3,127 2,101 2,626 3,219 4,030 2,492 3,456 3,992 4,011 2,035 3,007 3,668 3,190 2,068 1,870 1,378 1,728 1,523 1,655 1,732 1,580 1,287 2,426 3,542 1,767 3,059 4,535 3,065 3,759 3,668 4,780 9,567 8,769 4,331 2,958 3,206 2,417 546 619 449 1,586 252 260 1,439 645 371
            Long-term debt securities, assets 9,633 10,059 9,579 9,868 10,592 10,892 11,378 11,631 11,464 12,263 13,661 12,546 13,444 13,469 13,614 12,803 12,475 13,417 12,858 12,117 11,996 12,391 11,990 12,754 12,003 11,747 12,903 11,909 16,102 15,295 11,651 8,586 7,692 6,543 5,980 6,380 8,552 9,750 9,871 9,426 8,851 8,192 9,490 11,054 11,268 10,763 10,608 10,524 10,325 10,342 9,956 9,370
      Loans, assets 2,696 2,987 2,887 2,740 3,079 3,000 2,938 3,018 3,301 3,594 3,486 3,774 4,129 4,048 3,928 4,256 4,388 4,702 4,670 4,672 4,938 5,481 5,485 5,896 6,153 6,508 6,805 6,183 6,816 6,459 7,214 7,360 7,782 9,093 8,885 8,927 9,137 9,755 8,812 8,767 8,948 9,190 9,593 10,281 11,233 11,388 11,401 11,408 12,041 12,771 13,302 12,249
            Short-term loans, assets 232 557 542 244 366 331 378 194 271 642 454 404 527 514 441 470 385 709 584 128 129 598 463 512 418 755 922 437 733 401 493 361 473 1,157 798 835 791 1,455 568 584 187 541 900 987 1,046 1,163 1,152 974 680 1,320 1,666 565
            Long-term loans, assets 2,464 2,430 2,345 2,496 2,713 2,670 2,561 2,824 3,031 2,952 3,032 3,370 3,602 3,534 3,487 3,786 4,003 3,993 4,085 4,545 4,809 4,882 5,022 5,384 5,735 5,753 5,883 5,746 6,083 6,058 6,721 6,999 7,309 7,936 8,087 8,092 8,346 8,299 8,244 8,182 8,761 8,649 8,693 9,293 10,187 10,225 10,249 10,434 11,361 11,451 11,636 11,685
      Shares and other equity, assets 5,488 6,575 6,891 7,767 9,034 8,912 10,706 7,242 7,147 7,372 10,013 9,935 8,879 8,548 8,490 8,346 8,623 9,234 8,232 7,128 6,868 8,553 9,515 10,931 11,524 12,448 14,704 15,241 17,989 18,058 16,033 16,129 17,160 16,866 20,969 22,909 18,037 24,049 23,914 18,442 15,643 15,852 19,208 18,065 20,529 19,564 19,616 22,289 21,138 22,472 24,243 22,638
            Units issued by money market investment funds, assets 4,482 5,351 5,310 6,183 7,207 7,203 8,810 5,480 5,365 5,479 8,003 8,201 7,071 6,262 6,103 6,360 6,419 6,855 5,965 5,316 5,005 6,273 6,895 8,877 8,762 9,025 11,222 11,973 14,595 14,494 13,742 13,535 14,592 14,464 18,387 20,421 15,791 21,514 20,979 16,628 13,706 13,415 16,597 15,558 17,339 16,498 16,173 19,108 18,104 18,726 20,043 18,432
            Units issued by investment funds other than money market assets 1,006 1,224 1,581 1,584 1,827 1,709 1,896 1,762 1,782 1,893 2,010 1,734 1,809 2,286 2,387 1,986 2,204 2,379 2,268 1,812 1,863 2,280 2,620 2,054 2,762 3,423 3,482 3,268 3,395 3,565 2,291 2,594 2,568 2,402 2,582 2,488 2,246 2,535 2,935 1,813 1,937 2,437 2,611 2,506 3,190 3,067 3,443 3,180 3,035 3,746 4,199 4,206
            Other investment fund shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Insurance technical reserves, assets 17 17 18 18 19 20 20 21 21 22 23 23 22 23 23 24 24 25 25 26 26 27 27 28 29 29 29 32 32 30 29 30 31 30 32 35 37 39 42 43 43 42 44 44 45 44 45 46 47 47 46 47
            Reserves for premiums and claims, assets 17 17 18 18 19 20 20 21 21 22 23 23 22 23 23 24 24 25 25 26 26 27 27 28 29 29 29 32 32 30 29 30 31 30 32 35 37 39 42 43 43 42 44 44 45 44 45 46 47 47 46 47
      Other accounts receivable 5,763 5,908 6,034 5,715 6,190 6,461 6,812 6,738 7,735 8,003 8,093 8,537 9,254 9,315 9,719 9,440 10,210 10,557 10,542 10,386 11,442 11,814 12,320 11,485 12,458 12,936 13,406 13,458 14,956 16,347 19,007 16,390 18,643 20,711 21,819 19,913 19,681 20,814 22,692 22,420 25,482 26,206 27,474 27,898 29,992 32,828 33,834 36,701 41,190 41,525 43,016 43,747
II. Net Financial Assets (I-III) 10,290 11,262 11,126 10,263 12,432 11,688 13,327 6,523 7,323 7,568 10,482 8,071 6,842 4,923 1,630 -1,332 38 711 -1,925 -6,027 -6,841 -4,482 -5,250 -7,471 -9,676 -12,468 -14,502 -15,956 -6,336 -15,648 -21,357 -26,398 -22,176 -22,619 -23,466 -29,224 -28,210 -16,814 -15,214 -30,364 -31,493 -33,219 -28,938 -39,546 -39,728 -39,404 -50,240 -45,924 -46,460 -48,121 -51,013 -56,146
III. Outstanding liabilities 23,392 24,459 25,489 26,132 26,840 28,604 29,580 33,105 32,859 35,219 37,029 38,536 41,258 44,376 47,838 47,911 48,189 52,083 51,763 52,663 53,628 54,593 57,860 61,012 64,517 70,589 75,906 75,811 78,239 88,120 90,188 89,023 88,043 89,798 97,832 101,202 98,689 104,714 102,318 108,481 107,999 112,058 112,395 121,601 128,945 130,300 143,282 142,566 147,147 153,480 160,000 161,919
      Currency and deposits, liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
            Other deposits, liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Debt securities, liabilities 16,880 18,032 18,954 19,507 19,910 21,807 22,638 25,828 25,006 27,614 29,314 30,456 32,528 35,171 38,030 38,623 39,463 43,889 43,214 44,166 44,362 46,238 48,413 51,223 53,676 59,944 64,997 63,658 65,235 74,870 74,680 75,656 73,421 73,501 80,222 84,532 83,999 89,301 86,112 91,988 90,792 94,224 93,902 102,809 108,639 107,740 121,360 118,053 120,768 127,903 133,949 133,094
            Short-term debt securities, liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,444 3,994 2,874 2,909 3,703 3,302 2,703 2,120 2,517 1,949 1,979 4,972 4,100 1,666 1,698 4,115 4,184 3,378 0 3,800 5,499 5,087 2,915
            Long-term securities debt securities, liabilities 16,880 18,032 18,954 19,507 19,910 21,807 22,638 25,828 25,006 27,614 29,314 30,456 32,528 35,171 38,030 38,623 39,463 43,889 43,214 44,166 44,362 46,238 48,413 51,223 53,676 59,944 64,997 63,658 65,235 72,425 70,686 72,782 70,512 69,798 76,920 81,829 81,879 86,785 84,163 90,010 85,819 90,124 92,236 101,111 104,524 103,555 117,983 118,053 116,968 122,404 128,862 130,179
      Loans, liabilities 874 897 900 923 933 955 987 1,004 992 997 1,061 1,049 1,095 1,154 1,243 1,285 1,262 1,250 1,324 1,307 1,355 1,375 1,400 1,461 1,416 1,464 1,575 1,641 1,750 1,696 1,638 1,863 1,880 1,910 2,030 2,687 2,567 2,875 3,000 2,938 2,745 3,067 3,383 3,312 3,579 3,493 3,365 3,810 3,681 3,611 3,597 3,786
            Short-term loans, liabilities 4 4 4 5 5 5 4 3 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 4 5 6 5 5 5 5 7 6 6 6 6 6 9 6 6 7 7 17 17 11 11 8 8 7 7 7 7
            Long-term loans, liabilities 870 893 897 918 928 950 983 1,002 990 995 1,060 1,048 1,095 1,153 1,242 1,284 1,261 1,249 1,323 1,306 1,353 1,374 1,398 1,460 1,412 1,459 1,568 1,636 1,745 1,691 1,633 1,857 1,874 1,904 2,024 2,681 2,561 2,866 2,994 2,931 2,738 3,059 3,367 3,294 3,568 3,482 3,357 3,803 3,673 3,604 3,590 3,779
      Other accounts payable 5,639 5,530 5,634 5,703 5,997 5,842 5,956 6,272 6,861 6,608 6,654 7,031 7,634 8,051 8,565 8,003 7,464 6,943 7,225 7,191 7,911 6,979 8,048 8,328 9,425 9,181 9,334 10,512 11,254 11,554 13,870 11,504 12,743 14,387 15,580 13,983 12,123 12,538 13,206 13,555 14,463 14,767 15,111 15,481 16,727 19,068 18,557 20,704 22,698 21,966 22,453 25,040
MEMORANDUM: Market value of sovereign wealth funds 9,734 11,193 11,484 11,918 12,790 13,077 13,796 13,747 14,001 14,108 15,670 15,617 15,681 15,755 15,900 15,104 15,352 16,096 15,549 15,227 15,169 15,880 15,958 16,562 16,653 16,742 17,897 17,160 18,836 17,434 16,454 13,593 13,641 9,056 7,886 8,443 11,970 13,248 13,054 12,024 11,419 11,577 12,638 12,976 13,671 12,962 12,977 12,894 12,517 12,767 13,462 12,941
      Economic and Social Stabilization Fund, ESSF 6,972 7,663 7,826 8,076 8,657 8,542 8,987 8,922 9,082 8,883 9,932 9,879 9,922 9,660 9,702 9,190 9,324 9,551 9,308 9,068 9,041 9,484 9,275 9,836 9,770 9,647 10,278 9,109 10,439 8,629 7,638 6,369 6,261 3,625 1,994 2,089 6,414 7,002 6,933 6,459 6,078 4,762 5,205 5,334 5,053 4,298 4,268 3,590 3,522 3,598 3,727 3,544
      Pension Reserve Fund, PRF 2,762 3,530 3,658 3,842 4,133 4,535 4,809 4,825 4,919 5,225 5,738 5,738 5,758 6,095 6,198 5,914 6,028 6,545 6,241 6,159 6,128 6,396 6,684 6,725 6,883 7,095 7,618 8,051 8,397 8,806 8,817 7,224 7,380 5,431 5,891 6,354 5,557 6,246 6,121 5,566 5,341 6,815 7,432 7,642 8,617 8,664 8,709 9,304 8,994 9,169 9,735 9,397
MEMORANDUM: Financial transactions of sovereign wealth funds 37 1,002 48 50 53 57 52 53 55 62 59 60 66 63 59 55 57 398 -143 56 57 59 -133 -85 76 -314 73 -1,433 76 -1,574 -790 -1,923 38 -4,763 -1,855 33 4,888 489 50 -189 54 61 70 -185 -668 -191 92 -878 89 -220 90 87
      Economic and Social Stabilization Fund, ESSF 20 314 23 26 27 -248 25 25 26 -257 26 27 30 -284 26 24 23 27 25 24 25 26 -330 28 31 -355 29 -1,481 26 -1,625 -836 -749 10 -2,674 -1,884 3 4,858 9 13 19 21 -1,289 24 34 -720 -533 32 -937 24 25 27 27
      Pension Reserve Fund, PRF 17 688 25 24 25 305 27 28 29 319 33 33 36 347 33 30 34 371 -168 32 32 33 197 -113 45 40 44 48 50 51 46 -1,174 27 -2,089 28 31 30 480 37 -209 34 1,350 46 -219 51 342 60 59 64 -246 63 60