MANILA, Philippines — The national government incurred a fiscal deficit of P36.9 billion in September as revenue performance improved and expenditures declined, latest data from the Bureau of the Treasury show. September saw a 51 percent decline in fiscal deficit or P38.4 billion compared to last year. “The Q3 fiscal deficit of P58.6 billion is also lower than the P93.4 billion recorded in the same quarter last year,” the Treasury said in a news release on Monday. Total revenues for September posted a year-on-year growth of 21 percent or P34.1 billion to P200.1 billion. Netting out interest payments from expenditures, the state registered a P10.5 billion primary deficit for the month of September—a sharp decline compared to the P42.7 billion primary deficit recorded in 2016.

Source: Philippine Star October 24, 2017 04:41 UTC