MANILA - The national government (NG) registered a budget deficit of PHP146.8 billion in May, down by 26.72 percent from PHP200.3 billion recorded a year ago due to double-digit revenue growth alongside the 1.10-percent contraction in government expenditures. The resulting year-to-date (YTD) budget gap also declined by 18.99 percent or PHP107.5 billion to PHP458.7 billion from the previous year's outturn of PHP566.2 billion. Total revenues grew by 18.91 percent to PHP304.9 billion for the month compared to PHP256.4 billion collected in May 2021. Year-to-date collection amounting to PHP1,437.2 billion also reflected a 15.46 percent or PHP192.4 billion improvement over last year's comparable revenue performance. Ninety percent (90 percent) or PHP1,289.6 billion of the total collections was sourced from taxes while the remaining 10 percent or PHP147.6 billion came from non-tax revenues. The Bureau of Internal Revenue's (BIR) net collections amounted to PHP216.6 billion, notchi
NG budget balance swings to surplus in April - BusinessWorld Online bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Fiscal deficit hits ₱187 7B in March cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.