Budget Deficit Widened In August

In August, the national government's (NG) budget deficit expanded to P133 billion due to a decline in revenues, according to data from the Department of Finance (DoF).

In August, government revenues decreased by 6.58% to P310.6 billion from P332.4 billion in the same month the previous year. I Photo: Department of Finance Philippines

The fiscal gap increased to P133 billion in August, up from P72 billion the previous year. Month-on-month, the budget deficit nearly tripled compared to the P47.8-billion gap recorded in July.

DoF Secretary Benjamin E. Diokno explained in a press briefing on Friday, "This is attributed to a 6.6% decrease in government receipts, combined with a 10% increase in expenditures."

In August, government revenues decreased by 6.58% to P310.6 billion from P332.4 billion in the same month the previous year.

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