Govt collections, spending up in Q1

State spending and revenue collections posted double-digit growth during the first quarter of the year, a Cabinet official said, tracing the improvement to tax reforms and the government’s infrastructure program.

“First-quarter collections of BIR (Bureau of Internal Revenue) and BoC (Bureau of Customs) increased by 16 percent and 24 percent, respectively, over same period last year,” Finance Secretary Carlos Dominguez 3rd told reporters in a message late Wednesday.