P42.7-B April fiscal surplus
The lower surplus was due to the faster increase in government spending which outpaced the growth in revenue collections
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Daily TribuneThe lower surplus was due to the faster increase in government spending which outpaced the growth in revenue collections
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The budget posted a P42.7-billion surplus in April, data from the Bureau of the Treasury (BTr) showed.
The BTr, in its latest cash operations report released on Thursday, said the budget surplus during the month, however, was lower than the P66.8 billion recorded in the same month last year.
According to the BTr, the lower surplus was due to the faster increase in government spending which outpaced the growth in revenue collections.
Total revenues during the month amounted to P537.2 billion, up by 21.90 percent from the P440.7 billion collection in April last year.
Positive results
“The positive outturn for the month was propelled by higher year-over-year (YoY) growth in both tax and non-tax revenues. The increase in tax revenues was fueled by double-digit growth in the collections of revenue collecting agencies while the increase in non-tax revenues was due to strong dividend remittance,” the BTr said.
The national government’s expenditures, meanwhile, amounted to P494.5 billion, up by 32.25 percent from last year.
“The expansion was driven by higher releases of the National Tax Allotment and subsidies to [government-owned and controlled corporations], including releases to [Power Sector Assets and Liabilities Management] under the Murang Kuryente Act, as well as the release of the 4th tranche of capitalization of the Coconut Farmers Industry Trust Fund,” the BTr added.
