SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – The national government’s budget deficit for 2012 likely reached P235.3 billion, 15.7% lower that the target of P279.1 billion, preliminary government data showed.
According to the Investment Relations Office report distributed at the Philippine Economic Briefing on Wednesday, Febuary 13, the deficit was equivalent to 2.2% of the country’s gross domestic product (GDP), below the 2.6% ceiling for the year.
CLICK HERE FOR UPDATES ON THE ECONOMIC BRIEFING.
The same report said both the country’s key tax agencies missed their revenue collection goals in 2012.
The Bureau of Internal Revenue generated P1.046 trillion in taxes, lower than its P1.066-trillion goal, while the Bureau of Customs collected P291.4 billion, short of its P347-billion target.
For 2013, the Aquino administration is looking at a lower deficit figure of P241 billion, equivalent to 2% of GDP. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.