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Budget deficit down to P26 B in 1st Q

By Michelle Remo
Philippine Daily Inquirer
First Posted 14:07:00 04/27/2011

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

MANILA, Philippines?The national government's budget deficit amounted to P26.197 billion in the first quarter, the Department of Finance announced Wednesday.

The department said revenues collected during the period totaled P323.078 billion against expenditures of P349.275 billion.

The deficit for the quarter was much lower than the P112-billion ceiling set for the period. It was also significantly below the P134.179 billion registered in the same period last year.

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