Budget Deficit at P23.7 Billion in February 2017

The government posted a P23.7-billion budget deficit in February, reversing January’s P2.222-billion surplus though it was still 31.5% less than the P34.6-billion shortfall in February last year. State agencies collected P151.8 billion in revenues, up nine percent from P139 billion last year, with tax collections rising 12% to P138.8 billion from P123.9 billion. Spending, however, edged up just one percent to P175.6 billion from P173.6…

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