29-5-2023 (MANILA) The Philippine government achieved a budget surplus of 66.8 billion pesos (US$1.21 billion) in April, compared to a surplus of 4.9 billion pesos during the same period last year, according to a statement released by the Bureau of the Treasury on Monday (May 29).
The bureau highlighted that this latest surplus contributed to a 35 percent reduction in the January-April deficit, which decreased from 311.9 billion pesos to 204.1 billion pesos.
Expenses for the month of April increased by 9 percent to reach 373.9 billion pesos, while disbursements for the first four months of the year grew slightly by 1.2 percent to 1.5 trillion pesos.
In contrast, revenues experienced significant growth in April, surging by 27 percent to 440.7 billion pesos. Total receipts for the first four months of the year also saw a notable increase of 11 percent, amounting to 1.3 trillion pesos.
