The Duterte administration’s January to June 2021 fiscal gap reached P716.1 billion, lower by 29 percent against the P1.018 billion program set for the period.
Moreover, the Treasury said there were also outstanding checks as of June that have yet to be encashed by contractors or suppliers of line agencies.Meanwhile, government revenue haul posted better-than-expected performance in January to June after both tax and non-tax collections exceeded targets. Based on the Treasury report, the government’s two main tax agencies, the Bureau of the Internal Revenue and Bureau of Customs, have outperformed their targets in January to June.
In June alone, the government’s fiscal balance swung back to a deficit after the payment of income taxes was reinstated to its original schedule this year.
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