• June budget deficit widens on-month, narrows on-year

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    THE national government’s budget deficit widened more than 150 percent to P45.19 billion in June from May on the back of an increase in public spending, but it narrowed by 37.8 percent year-on-year, data released by the Department of Finance (DOF) showed on Wednesday.

    In May, the budget balance stood at a deficit of P17.65 billion. A year earlier, in June 2015, the gap was P72.67 billion.

    Disbursements of P220.77 billion in June this year surpassed revenues of P175.58 billion, the DOF said.

    MAYVELIN U. CARABALLO

    MC/NT

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