2016 Budget Deficit Up 190% as Government Ramps Up Infrastructure Spending

The government incurred a budget deficit of P353.4 billion in 2016, widening by almost three-fold, or 190 percent, from the P121.7-billion shortfall recorded in 2015 amid efforts to ramp up public spending on infrastructure. Despite the sharp increase, the latest figure was nine percent lower than the revised budget deficit target of P388.9 billion. At 2.4 percent of the GDP, it is the highest level posted in five years though still below the 2.7…

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