DoF: Wider 2016 budget deficit allowed economic uptrend

The Department of Finance (DoF) said on Friday a wider budget deficit last year allowed the economy to stay robust amid a challenging external environment.

“Although the budget deficit incurred by the national government (NG) hit P353.4 billion in 2016, or P231.7 billion higher than the year-ago figure, it was well within the government’s aim start spending big on three priority areas to sustain high growth, attract investments and create jobs, accelerate poverty reduction and transform the Philippines into an upper middle-income economy by 2022,” Finance Secretary Carlos Dominguez 3rd said in a statement.