LGUs urged to raise more revenues, improve fiscal transparency
The Department of Finance (DOF) has released in its Iskor ng ‘Yong Bayan website (http://iskor.blgf.gov.ph) the fiscal sustainability scorecards of 1,477 municipalities, including newly created cities, in the Philippines from FY2009 to FY2012 to urge local governments to boost local revenue generation.
“I am pleased to note that the National Government has recorded a budget deficit of P2.5 billion in October 2014, 77% narrower than the year-ago deficit, as revenue collections maintain its quick-paced growth. The year-to-date budget deficit was at P33.6 billion, well-within the program.Read More
01 December 2014 Manila, Philippines – The National Government (NG) registered a P2.5 billion fiscal deficit in October, 77% lower than the amount posted in the same period last year as expenditures continued to grow at a slower pace than revenues.Read More
January to September Fiscal Deficit at P31.1 billion
25 September 2014 Manila, Philippines – The National Government (NG) recorded a P29.9 billion fiscal surplus in August, a 36% or P8.0 billion improvement over the surplus recorded a year ago. The resulting year-to-date deficit of P25.9 billion is 69% or P56.7 billion lower than comparable figures in 2013.Read More
“I am pleased to report that the National Government posted a deficit of P1.8 billion in July 2014, narrower than year-ago levels as a result of efficient collection of tax revenues. The year-to-date deficit was recorded at P55.7 billion, well-within the program.Read More
29 August 2014 Manila, Philippines – The National Government (NG) recorded a P1.8 billion fiscal deficit in July as revenue generating agencies ramped up collection efforts. The July deficit is down 97% from the same period last year, resulting to a lower cumulative budget shortfall of P55.7 billion for the first seven months of 2014 compared to P104.5 billion in 2013.Read More
BIR posts highest tax effort since 2000
As of September 2013, the National Government posted a Deficit-to-GDP ratio of 1.2%, way below the projected 2.0% for 2013. The budget deficit was P101.2 billion, P2.7 billion lower compared to the same period last year and well within the target of P144.5 billion for the first nine months of 2013.
The National Government posted a deficit of P53.2 billion last July, bringing the year-to-date deficit to P104.5 billion, on track to meet the government program for the first three quarters at P144.4 billion.Read More
9 September 2013 Manila, Philippines – The National Government incurred a P53 billion deficit in July as higher government operating expenses paced higher than expected revenue collections. The July deficit grew 36% year-on-year compared to the P39 billion shortfall for July last year. Despite this, the end-July deficit amounting to P105 billion remained broadly in line with the government program of P144 billion for the first three quarters of the year.Read More