P28.8-B surplus trims budget gap

The government recorded a P28.8-billion budget surplus in August on the back of double-digit revenue and expenditure gains, the Treasury bureau said on Friday.

Revenues for the month of August totaled P230.4 billion, up 10 percent year on year and pushing the eight-month tally to P1.6 trillion, which was also 8 percent higher compared to the same period last year.