January to November Fiscal Deficit at P26.8 billion
Purisima: Prudent fiscal management keeps us in virtuous cycle
“I am pleased to note that the National Government’s budget balance in November 2014 was at a surplus of P6.8 billion, wider than the year-ago surplus of P1.0 billion. Year-to-date, the budget balance was at a deficit of P26.8 billion, well-within the program,” Finance Secretary Cesar Purisima said.
“I am pleased to report that the National Government has posted a budget surplus of P29.9 billion in August, wider than the year-ago surplus, once again resulting from fast-paced expansion of revenue collections for the month. This brought the year-to-date budget balance to a deficit of P25.9 billion, well-within the program and narrower than comparable figures a year ago,” Finance Secretary Cesar Purisima said.
Read MoreYear-to-date deficit within target at P112.5 B
The National Government achieved a fiscal surplus of P21.9 billion, eight fold the P2.5 billion surplus in August 2012. Year-to-date, overall fiscal deficit stands at P82.6billion, in line with Government projections.
Read MoreGov’t meets revenue target as of March
Read MoreYear-to-date deficit falls to P5-B; revenues up 13% in first 2 months. A budget surplus was achieved by the Aquino administration in February as revenues increased by almost half amid rising expenditures as government front ends spending.
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