Latest Breaking News On - பத்திரம் மூழ்கும் நிதி - Page 1 : comparemela.com
Higher public spending brings fiscal deficit to ₱120 9B in August
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.
Gross borrowings reach P1 9 trillion in the first half
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.
endIndex:
Metro Manila (CNN Philippines, June 22) The country s budget deficit reached ₱200.3 billion in May, slightly narrower than last year s tally but the widest since December, data from the Treasury Bureau published Tuesday revealed.
The latest figure is 0.91% lower than the ₱202.1 billion logged in May 2020. However, it is the largest recorded since December, where the fiscal deficit ballooned to ₱302.6 billion.
The Treasury noted the deficit s recent marginal narrowing comes as growth in expenditure levels kept pace with the acceleration in revenue collection.
The government raked in ₱256.4 billion in May, a 69.26% jump driven by higher tax collections.
The Bureau of Internal Revenue raked in ₱183.7 billion during the month, growing by 60.54%. The Bureau of Customs, meanwhile, collected ₱48.6 billion a 58.05% increase owing to efforts on improving valuation and collection.
endIndex:
Metro Manila (CNN Philippines, December 23) The country s funding gap further ballooned in November as the government spends slightly more on financial assistance measures amid the COVID-19 pandemic, but rakes in less revenues through collection efforts.
The Bureau of the Treasury reported a cumulative budget deficit of ₱1.069 trillion as of end-November, up from the ₱409.1 billion posted the year before. The recent figure still has ample elbow room against the government s revised full-year ceiling target of ₱1.815 trillion.
Subsidy releases to the Land Bank and the Philippine Health Insurance Corporation drove public spending during the month, noted the bureau, along with capital infusions for government financial institutions for pandemic assistance or lending programs. These are in line with the Bayanihan to Recover as One Act, which serves as direly needed lifeline for sectors and individuals gravely affected by the health crisis.
Budget deficit topped P1t in 11 months as tax collections fell
manilastandardtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manilastandardtoday.com Daily Mail and Mail on Sunday newspapers.