The government's catch-up plan may have finally hit the ground running in September as public spending surged by 39 percent, latest Treasury data showed.
Actual expenses climbed 40 percent year-on-year to ₱372 billion, while payments for maturing debts grew by about a third to ₱43.1 billion.On the other hand, state revenues leaped by 17 percent to hit ₱236.5 billion last month. Both the Bureau of Internal Revenue and the Bureau of Customs logged double-digit increases, while non-tax revenue sources added ₱25.5 billion to public coffers.
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