Govt budget balance in surplus for January

THE government recorded a budget surplus of P88 billion in January — nearly double the year-earlier P45.7 billion — as revenue collections outpaced spending, Treasury bureau data showed on Friday.

«The fiscal outturn was brought about by a faster 21.15 percent year-over-year (YoY) increase in revenue collection outpacing the 10.39-percent expansion in government spending,» the Treasury said in a statement.

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