Philippines budget deficit narrows to 115.9b pesos in Jan-April
[MANILA] The Philippines posted a budget deficit of 115.9 billion pesos (S$2.95 billion) in the first four months of the year, with a double-digit increase in disbursements outpacing a rise in revenues, Finance Secretary Carlos Dominguez said on Wednesday.
He did not disclose monthly figures but Reuters calculation showed a budget surplus of 46.3 billion pesos in April. The finance department earlier reported a first-quarter deficit of 162.2 billion pesos.
Revenues in the January-April period rose 21 per cent from a year ago and were 7 per cent higher than programmed, while disbursements increased 31 per cent, he said citing figures from the Bureau of the Treasury.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US mulls first green-bond sales to tap a US$2.6 trillion market
US factory activity shrinks with price gauge highest since 2022
Hong Kong faces uphill battle to lure back Chinese tourists
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April