Aug surplus narrows 8-month budget gap

The national government’s fiscal position registered a surplus in August as fast-paced expansion of revenue collections offset expenditures for the month, resulting in a narrower year-to-date budget deficit, the Department of Finance (DOF) said Thursday.

Data released by the Bureau of the Treasury and the DOF showed that the government posted a P29.9 billion fiscal surplus in August, up 36 percent or P8 billion over the surplus recorded a year ago.