Author: tixij.zeal
Date: December 28, 2018
in: Politics
Share to Facebook Share to Twitter More...

National Government’s Budget Deficit Widened As Government Spending Exceeded A Moderate Increase In Revenue Generation

BUDGET – The Bureau of Treasury (BTr) recently reported on Thursday that the National Government’s budget widened to ₱39.1 billion.

This November’s fiscal gap was 354% bigger than last year’s deficit, which amounted to ₱ 8.6 billion. The government’s budget balance swung to a
₱477.2 billion deficit in 11 months, which is higher than the ₱243.5 billion shortage that was registered in the comparable period in 2017; and is equivalent to the 91% of the P523.7 billion full-year cap for 2018

BUDGET
The Duterte government has been pushing for a wider budget gap to accommodate heightened infrastructure spending, particularly big-ticket projects in its ambitious “Build, Build, Build” program. The STAR/Kriz-John Rosales Photo uplifted from: PhilStar

A report in PhilStar explains that a deficit would mean that the government spend more than what they earned. Surplus, on the other hand, means otherwise

BTr said that last month, revenues grew to 7% year-on-year from ₱243.5 billion to ₱259.7 billion. Collections hit ₱2.618 trillion from January to November, up 16% from last year.

Expenditures, on the other hand, rose up to 19% from ₱252.1 billion a year ago to ₱298.8 billion in November. The disbursement was 24% larger from ₱2.493 trillion to ₱3.095 trillion in the same period

As per the report, the government has been pushing for a wider budget gap in order to accommodate increased infrastructure spending, especially big-ticket projects in its “Build, Build, Build” program.

Right now, the Philippine government’s fiscal shortage program was set at 3% of gross domestic product (GDP) this year; 3.2%for next year; and 3% in 2020 until 2022.

What do you think? Let us know about it.

READ ALSO: Federal Charter Draft Is Nothing Like ConCom’s Draft, Says Generoso

For more news and updates, follow us on Twitter:@philnews_phand Facebook:@PhilNews

Share to Facebook Share to Twitter More...

comment(s) for this post "National Government’s Budget Deficit Widened In November". Tell us what you think abut this post by leaving your comments below.

{ 0 comments… add one }

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.