Philippine budget deficit slightly widened in February
MANILA -The Philippine national government’s budget deficit in February widened slightly by 0.5 percent to P106.4 billion from P105.8 billion in the same month a year ago mainly due to a decrease in revenues.
The Bureau of the Treasury (BTr) said this brought the January-February deficit down by 53 percent to P60.6 billion from P129.2 billion.
February expenses were stable at P106.4 billion while two-month disbursements rose slightly by 0.2 percent to P620.7 billion.
On the other hand, revenues for the month dipped by 0.2 percent to P211.9 billion while two-month receipts surged by 14.2 percent to P560 billion.
In January, the government posted a P45.7-billion budget surplus thanks to revenues outgrowing spending.
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