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Gov’t deficit reaches P229.4 B from January to July

Shortfall hit P32.7B in July alone

By Ronnel Domingo
Philippine Daily Inquirer
First Posted 21:29:00 08/19/2010

Filed Under: Economy and Business and Finance, Government, State Budget & Taxes

MANILA, Philippines?Finance Secretary Cesar Purisima said the government posted a budget deficit of P32.7 billion in July, down 5.6 percent year-on-year.

But the January-July deficit totaled P229.4 billion, up 22 percent compared to the one posted in the first seven months of 2009.

The seven month deficit accounts for 70.5 percent of the full-year target cap of P325 billion.

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