According to data from the Bureau of the Treasury, the deficit amounted to P2.6 billion, a reversal of the P28.8 billion in budget surplus in the same period a year ago. Official data would also show that this was the first time the government recorded a deficit during August since 2009 when it posted P21.981-billion in deficit that month under the Arroyo administration. A deficit means the government spent more than it earned, while the surplus means otherwise. Last month, data showed the government spent P259.5 billion while earning only P256.9 billion. The Bureau of Internal Revenue, as the government's main revenue agency, raked in P185.1 billion, up 8 percent year-on-year, data showed.

Source: Philippine Star September 24, 2018 11:37 UTC