The Development Budget Coordination Committee (DBCC) expects that the national government's budget deficit would widen in the latter part of the year, driven by catch-up spending. In the DBCC mid-year report, the inter-agency body responsible for determining the government's macroeconomic...
The Bureau of the Treasury reported that the Marcos administration's budget deficit fell well below the ceiling in the first nine months of the year due to higher-than-expected revenues. From January to September, the national government incurred a fiscal gap of P983.5 billion, 11 percent lower...
The Department of Finance (DOF) reported an increase in the national government's budget deficit in August due to higher expenditures and a decline in revenue collections. During the month, the Marcos administration’s fiscal deficit amounted to P133 billion, a substantial 85 percent surge...
The growth of the country's trade deficit for agricultural goods slowed in the second quarter as exports plunged, outweighing a decline in imports, the Philippine Statistics Authority (PSA) reported. In a report, the PSA said the total balance of trade in agricultural goods, or the difference...
The country’s trade deficit narrowed in July after both exports and imports contracted by double-digits, data from the Philippine Statistics Authority (PSA) showed Friday, Sept. 8. The trade deficit, or the difference between the value of export and import, narrowed by 30 percent to $4.20 billion...
The national government's budget deficit was nearly halved in July owing to strong revenue collection, data from the Bureau of the Treasury showed. The fiscal deficit, which arises when government expenditures exceed revenues, amounted to P47.8 billion in July 2023, a 45 percent decrease compared...
Imports continued to outpace the country’s exports, but at a narrower level in December last year, but overall trade gap in 2022 went up 38 percent versus 2021, the Philippine Statistics Authority (PSA) reported. The PSA said on Thursday, Jan. 26, that the country’s trade gap, or the difference...
The country's trade gap dropped 21.9 percent in November last year as imports continued to outpace the country’s exports, but at a narrower level, the Philippine Statistics Authority (PSA) reported. The PSA said on Tuesday, Jan. 10, that the country’s trade gap, or the difference between the...
The Department of Finance (DOF) said the national government’s budget deficit this year may fall below ceiling due to higher than expected revenue collections of its two main tax agencies. Finance Secretary Benjamin E. Diokno said the fiscal deficit as a share of gross domestic product (GDP)...
Trade deficit accelerated last June as country’s purchases of goods from abroad outpaced the rise in sales of locally-made products, but the National Economic and Development (NEDA) just shrugged off the widening trade gap. The Philippine Statistics Authority (PSA) said Tuesday, Aug. 9, that the...
The Duterte administration closed the books with a lower than expected budget deficit in the first semester, driven mainly by higher revenue collection by the Bureau of the Customs (BOC) from expensive fuel imports. The Bureau of the Treasury reported on Tuesday, July 26, that the national...
The national government's budget deficit declined in the first three-months of the year after revenues grew by double-digits, outpacing the increase in public spending, the Bureau of the Treasury reported. On Wednesday, April 27, the Treasury bureau showed that the government incurred a P316.8...
