PH budget deficit widens in Q1

Rappler.com

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Philippines' budget deficit in January-March reaches P66.478 billion, almost double the P35.198 billion posted in the same quarter a year ago

MANILA, Philippines – The government’s budget deficit in the first 3 months of 2013 reached P66.478 billion, almost double the P35.198 billion posted in the same quarter a year ago.

This fiscal performance was still within the P73.9 billion target for the quarter.

In a statement on Thursday, May 2, the Department of Finance announced the budget deficit in March at P35.198 billion, wider than the P28.62 billion posted in the same month a year ago.

The March fiscal gap, however, was more than the combined P31.28 billion recorded in the preceding months of January and February.

 

– research by Ramon Calzado/Rappler.com

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