Budget balance swings to P2.6-B surplus in May
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MANILA, Philippines --- The national government's budget balance swung to a surplus in May, further narrowing the five-month deficit as the delayed implementation of this year's appropriations took its toll on public expenditures. The latest Bureau of theBudget balance swings to P2.6-B surplus in May
MANILA, Philippines --- The national government's budget balance swung to a surplus in May, further narrowing the five-month deficit as the delayed implementation of this year's appropriations took its toll on public expenditures. The latest Bureau of the Treasury data released Tuesday showed that the government posted a P2.6-billion surplus last May, the third month this year that the amount of revenues collected exceeded spending on public goods and services. May's surplus reversed the P32.9-billion deficit recorded a year ago. Tax and non-tax revenues in May reached P317.2 billion, up 22.5 percent year-on-year thanks to "improved collections by major revenue generating agenci...Keep on reading: Budget balance swings to P2.6-B surplus in May Read more