Philippines posts budget surplus | 2019-05-26 |

Philippines posts budget surplus

25th May, 2019 10:04:52 printer

MANILA: The Philippine government ran a fiscal surplus of 86.9 billion pesos (1.66 billion U.S. dollars) for the month of April, surpassing last year’s 46.3 billion pesos (881.90 million) by 87.6 percent, the Bureau of Treasury (BTr) of the Philippines said on Friday.

For the month of April, the bureau said government revenues reached 308.7 billion pesos (5.88 billion U.S. dollars), up 1.1 billion pesos (20.95 million U.S. dollars) on a year-on-year basis, reports Xinhua.

The aggregate revenues for the first four months of 2019 amounting to 996.4 billion pesos (18.98 billion U.S. dollars) were also higher by 7.4 percent over comparable collections recorded a year ago, BTr said.

On the other hand, the Philippine government expenditures in April slid to 221.8 billion pesos (4.22 billion U.S. dollars), 15.1 percent lower compared to April 2018’s outturn of 261.2 billion pesos (4.98 billion U.S. dollars). “Part of the slower spending was still due to the four-month delay in the passage of the 2019 national budget which constrained the government in implementing new programs and projects,” BTr said.