The Philippine government’s budget deficit widened further to the biggest in three months in March but still narrower than that recorded in the same month last year, data released by the Bureau of the Treasury (BTr) on Wednesday showed.
The Philippine government’s budget deficit widened further to the biggest in three months in March but still narrower than that recorded in the same month last year, data released by the Bureau of the Treasury on Wednesday showed.The budget deficit stood at P195.9 billion, 6.82% narrower than the P210.3 billion in March 2023, but the widest since December 2023.Government revenues for the month stood at P287.9 billion, with tax revenues accounting for P223.
“While higher disbursements were recorded in departments/agencies, the growth of spending in March was weighed down by the lower subsidies to government corporations and transfers to local government units,” the BTr said.The BTr cited lower subsidies to corporations such as Power Sector Assets and Liabilities Management Corp. , and the transfer of the P15-billion Coco Levy Funds to the Coconut Farmers and Industry Fund which is expected in April, versus the release in 2023 made in March.
Bureau Of Treasury Economy Finance Budget Deficit
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