The national government’s budget deficit for March 2023 widened to P210.3 billion, 12.04 percent or P22.6 billion higher than last year’s shortfall of P187.7 billion, data showed on Tuesday.
Nevertheless, the YTD revenue for the three-month period still surpassed the P784.4 billion collected last year for the same period by 4.38 percent or P34.3 billion. “On a YTD basis, however, BIR’s P505.2-billion collection still topped the previous year’s achievement for the same period by 0.48 percent or P2.4 billion,” the BTr added.
As of end-March 2023, total BTr revenue reached P39.0 billion, also declining by 19.94 percent from last year’s P48.7 billion owing to the same reason. “Largely because of the lower National Tax Allotment shares of LGUs, as well as the timing of significant releases for some programs, such as the Department of Transportation’s [DOTr] Public Utility Vehicle [PUV] Service Contracting Program and Fuel Subsidy Program.”
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