Budget deficit narrows to P348.3 billion at end of October

Budget deficit is growing narrower and stood at P348.3 billion at the end of October.

The latest Bureau of the Treasury data released on Monday, Nov. 25, showed that the 10-month fiscal deficit was lower by 20.5 percent compared with the P438.1 billion posted during the same period last year.

In the month of October alone, the P49.3-billion deficit was 17.7-percent below the P59.9 billion a year ago.

During the first 10 months, expenditures on public goods and services rose 5.1 percent year-on-year to P2.94 trillion, while combined tax and non-tax revenues climbed by a faster 9.8 percent to P2.59 trillion.

Net of interest payments, end-October disbursements grew 4.9 percent year-on-year to P2.62 trillion.

Edited by TSB