Philippines budget surplus increased in April due to a sharp increase in revenues, Bureau of the Treasury said Monday.
The budget surplus totaled PHP 31.02 billion, up from PHP 26.25 billion in the prior year. The bureau said April's surplus is the highest ever recorded.
Revenues rose 10.8 percent annually to PHP 153.26 billion in April. At the same time, expenditure increased by 9.1 percent to PHP 122.24 billion.
The January to April fiscal deficit of the National Government was registered at PHP 2.88 billion. Netting out the interest payments in the expenditures, the National Government logged a primary surplus of PHP 111.742 billion for the first four months.
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