Governance, Nation, News

PH registers P2.5 billion deficit in October

Cbanga360.Net - The Bicol Street Journal

Published         2 Dec , 2014      1:42 pm          524 views.

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MANILA, Dec 2 — The National Government registered a P2.5 billion fiscal deficit in October, even as expenditures continued in a slower pace than revenues.

But instead of delving into the details of the deficit, the National Economic Development Authority, in a statement, was more into highlighting the positive notes appealing to the administration.

In a statement, NEDA said total revenues for the month amounted to P152.3 billion which brings year-to-date collections to P1.6 trillion,

Total Bureau of Internal Revenue collections for the month of October amounted to P1.1 trillion.

Bureau of Customs actual collections for October peaked at P34.2 billion.

Total Bureau of Treasury income get a boost at P5.8 billion inflow in October, largely due to the higher interest income earned on deposits with the Bangko Sentral ng Pilipinas.

Collections from other offices posted P10.5 billion for the month.

Government disbursements amounted to P154.8 billion in October, 6% or P9.2 billion higher than comparable figures last year. Year-to-date national government expenditures is at P1.6 trillion, 6% higher than spending incurred for 2013.

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