• Budget deficit narrows to P3.474B in Jan

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    THE national government registered a narrow budget deficit of P3.474 billion in January, data released by the Department of Finance (DOF) showed on Thursday.

    The government’s budget deficit in January was 46 percent or P2.998 billion lower than the P6.472 billion deficit recorded a year earlier.

    Expenditures amounted to P185.7 billion while revenues reached P182.27 billion.

    In primary terms, which exclude interest payments on foreign and domestic debt, the government posted a surplus of P42.12 billion in January, narrower than the year-ago surplus of P44.92 billion.

    “We’re starting the last year of this administration on a good note and in great shape. Both revenue and expenditure sides of our finances are sustaining a healthy amount of growth,” Finance Secretary Cesar Purisima remarked.

    “We remain in a firm position to finance the commitments in our social contract with the Filipino people. As always, fiscal sustainability is top of mind,” he added.

    MAYVELIN U. CARABALLO

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