Govt’s May budget surplus surges 90%

The national government’s fiscal performance resulted in a sharply higher budget surplus for the month of May as revenue-generating agencies recorded double-digit collections growth on enhanced valuation methods and stricter procedures.

The government posted a primary budget surplus of P35.4 billion for May, reflecting a 90 percent or P31.8 billion increase from the P3.5 billion primary surplus a year earlier, according to data released Thursday by the Bureau of the Treasury and the DOF.