The national government recorded a 1.2-percent deficit-to-gross domestic product (GDP) ratio at the end of the third quarter.

Data from the Department of Finance (DOF) said that the deficit-to-GDP ratio as of September was “way below” the projected 2-percent ratio for 2013. Budget deficit was recorded at P101.2 billion in the third quarter, or P2.7 billion lower compared to the same period last year.

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