The National Government’s budget gap swung to a surplus in April as revenue collection grew by double digits, while spending inched up by single digits, the Bureau of Treasury reported on Friday.
Tax revenues grew by 12.95% to P306.9 billion, while nontax revenues soared by 103.12% from a year ago. The period of January to April saw revenues improve by 14.56% year on year to P1.13 trillion from P988.4 billion. Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the surplus in April was a seasonal increase due to the government’s revenue collections for that month, a “consistent pattern seen in recent years.”
“We expect the budget to revert to deficits in the near term as spending is allowed to resume,” Mr. Mapa said in an e-mail. “In the coming months, revenue collection will be key to ensuring deficits are contained in an effort to limit the impact on the overall debt levels.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analyn Barro, naapektuhan sa madamdaming eksena ng 'First Lady''That scene of Pamilya Reyes made me cry off screen. Ang sakit-sakit,' tweet ni Analyn. Anong eksena sa FirstLady kaya ang tinutukoy niya dito?
Source: gmanetwork - 🏆 12. / 63 Read more »
‘Ang galing ng Pilipino’Let’s take a step away from the politics, shall we?According to the World Population Review, the average height in the Philippines is pegged at 63.7 inches. That’s about 5’3”.Now,
Source: cebudailynews - 🏆 8. / 71 Read more »
Empleyado ng munisipyo sa Rosario, Batangas, patay sa pamamarilPatay ang isang kawani ng munisipyo sa Rosario, Batangas matapos siyang pagbabarilin habang nakaupo sa nakaparada niyang motorsiklo.
Source: gmanews - 🏆 11. / 68 Read more »
Stanley Ng gets official mandate as PAL prexyFour months after his initial appointment, Stanley Ng, a pilot and son-in-law of tycoon Lucio Tan, is now Philippine Airlines’ (PAL) full-fledged president and chief operating officer.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Transformation ni Ruru Madrid, pati dambuhalang buwayang si Dakila, masisilayan na sa bagong teaser ng 'Lolong'Bukod sa transformation ni Ruru Madrid, masisilayan din sa bagong teaser ng Lolong ang dambuhalang buwaya na si Dakila! 🐊 💗
Source: gmanetwork - 🏆 12. / 63 Read more »
HINDI TOTOO: Si Marcos ang nagpagawa ng MeralcoFactCheck: Hindi si Marcos ang nagpagawa ng Meralco. Taong 1903 pa naitatag ang Meralco, na noon ay mas kilala bilang Manila Electric Railroad and Light Company. FactsFirstPH THAT IS GOOD IT ISN'T THEM AND NOT THEIRS🤭😂 Ang dami napaniwala niyan. ang di ko maintindihan sa mga bata na ito! fact checked ng fact checked ang mga palamunin naito eh 36 yrs nga wala namang nagawa yung Liberal para ipakulong yung BINTANG nila kc alam nilang kasabwat nila NPA sa mga bagay na yun tapos ang iingay! di nyo alam ang totoo!
Source: rapplerdotcom - 🏆 4. / 86 Read more »