Philippines Logs PHP 37.1 Billion Budget Deficit In January

Philippines' budget deficit stood at PHP 37.1 billion in January, lower than the PHP 38.1 billion deficit a year ago, the country's finance department said on Thursday.

Revenue collections reached PHP 92.3 billion in January, up 18% compared to a year ago.

Expenditures, meanwhile, reached PHP 129.4 billion, up 4% from a year ago.

Netting out interest payments in expenditures, the government recorded a primary surplus of PHP 0.5 billion, the ministry said.

by RTTNews Staff Writer

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