The government managed to trim its budget deficit from January to September to P1.01 trillion as higher revenues outpaced the growth of expenditure receipts amid a slight underspending during the period, according to the Bureau of the Treasury.
The government increased its borrowings for the first time this year to P133 billion in August, as the Marcos administration marked its second month in office.
The outstanding debt of the national government has breached the P13-trillion mark after jumping to another record-high in August, effectively closing in to 97 percent of the expected obligations this year, according to the Bureau of the Treasury.
The government continued to narrow its budget deficit in August as growth in revenue outpaced spending receipts with consistent normalization of business operations and the overall economy, according to the Bureau of the Treasury.
The outstanding debt of the national government jumped to a record P12.89 trillion as of end-July, with the Marcos administration adding some P96.1 billion in obligations in its first month in office, according to data from the Bureau of the Treasury.