Fiscal surplus widens to P86.9 B in April MANILA, Philippines — The national government booked a wider fiscal surplus in April amid lower spending due to the delay in the passage of the 2019 budget, according to the Bureau of the Treasury. In its latest cash operations report, the BTr said the national government’s budget surplus jumped by nearly 88 percent to P86.9 billion in April from P46.3 billion in the same period last year. The hefty surplus recorded in April helped in narrowing the country’s year-to-date fiscal deficit to only P3.4 billion as of end-April from P105.9 billion a year ago. A fiscal surplus occurs when the government generates more revenues that the funds it spends, while a deficit is incurred when disbursements exceed revenues. BTr data showed that government revenues for April alone rose slightly by 0.4 percent, but expenditures declined by 15.1 percent, resulting in the higher fiscal surplus. Revenues, in particular, inched up to P308.7 billion from P307.6 billion in the same month in 2018, according to the Treasury. This resulted in aggregate revenues of P996.4 billion in the first four months, 7.4 percent higher compared to the P927.4 billion in revenue recorded in the same… Read full this story
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