Jan-Nov budget deficit drops 7% to P1.24T  | Inquirer Business

Jan-Nov budget deficit drops 7% to P1.24T 

/ 02:51 PM December 21, 2022

The national government incurred a budget deficit of P1.24 trillion from January to November this year, a decrease of 7 percent from P1.33 trillion in the same period last year, according to Finance Secretary Benjamin Diokno.

Diokno said 11-month revenues climbed to P3.3 trillion, which was P503.1 billion or 18 percent above last year’s level and representing 99 percent of the full-year goal for 2022.

ADVERTISEMENT

Of this, tax revenues accounted for P2.96 trillion, which rose 17.5 percent from P2.52 trillion.

Also, national government spending reached P4.51 trillion, 9.9 percent higher than the P4.1-trillion 11-month bill in 2021

FEATURED STORIES

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: budget deficit, Department of Finance, government spending, revenues
For feedback, complaints, or inquiries, contact us.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Curated business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2023 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.