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Philippines' October Fiscal Deficit Widens Sharply From Last Year 83 days ago
(RTTNews) - Wednesday, the Philippines' Bureau of Treasury said the government recorded a fiscal deficit of PHP 28.5 billion in October, larger than a deficit of PHP 9 billion seen last year.
Revenues dropped 7.6% year-on-year to PHP 85.6 billion in the month, while expenditures climbed 12.3% to PHP 114.1 billion.
In the January-October period, the government recorded a deficit of PHP 266.1 billion, higher than a deficit of PHP 62.3 billion seen over the same period last year. Revenues fell 4.8% to PHP 925.4 billion, while expenditures rose 15.1% to PHP 1,191 billion.
Excluding interest payments, the deficit totaled PHP 14.4 billion in October and PHP 16.7 billion in the first ten months of the year.
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