Business NEWS

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.

The national government’s budget deficit narrowed in February this year owing to lower public spending.

Reducing infrastructure spending to temper the government’s growing debt stock will be counterproductive in the long-run as far as economic recovery is concerned, the Department of Finance (DOF) warned.

The national government posted a bigger budget deficit in the first month of the year owing to higher interest payments, data from the Bureau of the Treasury showed.

The Duterte administration’s budget deficit fell below ceiling last year driven mainly by higher than expected revenues as well as slightly below programmed spending, the Bureau of the Treasury reported.

Debt-watcher Fitch Ratings expects the ratio between the country’s economic output and the government’s budget deficit would remain above its pre-pandemic levels next year.

The Duterte administration registered a strong fiscal performance last year that enabled the government to maintain macroeconomic stability and helped maintain investor confidence, the Department of Finance (DOF) said.

The Duterte administration’s budget deficit registered only a marginal increase last November owing to improved revenue collections, data from the Bureau of the Treasury showed.

The Duterte administration’s budget deficit widened in October owing to higher spending.

The national government’s budget deficit breached the P1 trillion mark in the first three quarters of the year, but cuts in expenditures allowed the Duterte administration to keep the funding gap below the ceiling.

Increases in public spending last month forced the national government to raise its budget deficit in the first eight-months of the year near the trillion peso mark.

The national government’s budget deficit narrowed in July this year due to slower public spending and higher revenue haul, the Bureau of the Treasury reported.

Senate Minority Leader Franklin Drilon has urged state economic managers to reconsider allocating huge funds for the security sector for next year amid the “skyrocketing” national debt and a growing budget deficit.

The national government’s budget deficit fell below the ceiling in the first-semester of the year due to lower-than-expected spending, the Bureau of the Treasury reported.

Increased revenue haul allowed the Duterte administration to narrow its budget deficit in May this year, the Bureau of the Treasury reported on Tuesday, June 22.

The national government’s budget deficit decelerated last month owing to the substantial reduction in spending for coronavirus response compared with last year, data from the Bureau of the Treasury showed.

The Duterte administration’s economic team has jacked up the government’s budget deficit ceiling for this year and next to address the pandemic and its economic impacts.

The national government’s budget deficit more than doubled last month amid lower revenues and higher spending, data from the Bureau of the Treasury showed.