Govt fiscal position reverts to deficit

IN a reversal of significant surpluses recorded in preceding months, the national government’s fiscal performance reversed to a budget deficit in June amid the government’s efforts to speed up spending during the period.

The government posted a primary budget deficit of P42.9 billion for June compared to the P9.97-billion primary surplus a year earlier, according to data released on Monday by the Bureau of the Treasury and the Department of Finance (DOF).