Philippine government budget deficit widens to P349.7B in March

MANILA, Philippines — The national government’s budget deficit widened in March by nearly 2 percent from a year earlier to P349.7 billion, on higher energy spending amid the Middle East war. According to the Bureau of the Treasury (BTr), the Marcos administration spent P654.8 billion during the month, up 5.23 percent year on year. Spending was driven in part by allocations to the Department of Energy, which received P20 billion to fund measures aimed at cushioning the impact of the energy crisis. Revenues, meanwhile, rose 9.25 percent to P305.1 billion, supported by gains in both tax and nontax collections. The Bureau […]... Keep on reading: Philippine government budget deficit widens to P349.7B in March

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