Soaring interest payments, especially for debts that piled up to fight the Covid-19 pandemic, may slow down fiscal consolidation or budget-deficit reduction in the Philippines, according to the think tank Oxford Economics. "Because government deficits have ballooned quickly in the last few years, a...
The Bureau of the Treasury (BTr) reported that the national government's budget deficit narrowed to P970.2 billion for the first nine months due to increased revenue collections outpacing spending growth. The total fiscal deficit from January to September was also 9.08 percent below the P1.1...
The country’s trade deficit narrowed in August as imports grew at a slower pace than exports, the Philippine Statistics Authority (PSA) reported. Data from the PSA showed that the trade balance—the difference between exports and imports—fell to a 6.6-percent deficit of $4.38 billion, from an...
The Marcos administration’s budget deficit narrowed significantly in August due to robust revenue growth and a slight contraction in public spending, the Bureau of the Treasury reported. In a statement, the Treasury said the national government incurred a fiscal deficit of P54.2 billion in August...
The country's trade gap ballooned in July as imports rebounded sharply from the previous month's decline, while export growth remained sluggish. Data from the Philippine Statistics Authority (PSA) showed that the trade balance, or the difference between exports and imports, surged 18 percent to...
The trade deficit in agricultural goods expanded in the second quarter, driven by higher imports than exports, the Philippine Statistics Authority (PSA) reported. Agricultural trade deficit grew by 13.8 percent to $3.074 billion from April to June 2024, compared to $2.702 billion in the same period...
The national government spent more in July, partly due to an increased share from the national tax allotment (NTA) to the local government units (LGUs), the Bureau of the Treasury reported. State spending went up by 5.8 percent to P486.2 billion during the month from P459.5 billion a year earlier....
The national government's budget deficit widened in the first seven months of the year, despite revenues growing at a faster rate than public spending, data from the Department of Finance (DOF) showed. During the DOF budget deliberations on Tuesday, Aug. 27, Finance Secretary Ralph G. Recto...
The Philippine Statistics Authority (PSA) reported that the country’s trade deficit widened in June this year as exports declined faster than imports. The balance of trade in goods in the country recorded a deficit of $4.3 billion in June, higher by 9.3 percent than the $3.9 billion deficit in...
The Department of Finance (DOF) expects the consolidated public sector deficit (CPSD) to decrease to P603.85 billion next year from P730.32 billion this year. Data from the DOF showed that the decline in the deficit will be driven by higher budget surpluses of local government units (LGUs)...
The Bureau of the Treasury reported on Wednesday, July 24, that the national government's financing gap fell below ceiling in the first half of the year due to increased revenues. From January to June 2024, the national government recorded a budget deficit of P613.9 billion, seven percent lower...
By MYRNA VELASCO The grinding task of ensuring ‘fair and transparent’ trading outcomes in the electricity reserve market has been tossed as a responsibility of the Philippine Electricity Market Corporation (PEMC), which is also the governance body of the Wholesale Electricity Spot...
